The world’s two largest economies are nearing the finish line on a trade deal that could be signed by President Donald Trump and his Chinese counterpart Xi Jinping as early as this month. But that doesn’t mean the trade war ends.
Indonesia and Australia on Monday signed a long-awaited trade deal after months of diplomatic tension over Canberra's contentious plan to move its embassy to Jerusalem.
Indonesian trade minister Enggartiasto Lukita and his Australian counterpart Simon Birmingham wrapped up the multi-billion-dollar agreement in Jakarta, some nine years after negotiations first started.
The manufacturing sector has been one of ASEAN’s key economic growth drivers. Already, the region is a global manufacturing hub and is estimated to grow at a compound annual growth rate (CAGR) of 6.6 percent between 2016 to 2020.
Neither protagonist in the US-China trade war stands to benefit from their stand-off, the United Nations (UN) said Monday, suggesting others could cash in instead, with the European Union (EU) possibly winning big.
Asian markets rallied Friday as another broadly positive week drew to a close, with investors cheered by a report that the United States (US) was considering lifting tariffs on China as officials look to hammer out a trade deal.
In 1950, the Canadian-born Princeton University economist Jacob Viner explained a customs union produces a “trade creation” effect, as lower tariffs and non-tariff barriers spur increased flows of goods among member countries.
United State (US) President Donald Trump and Chinese President Xi Jinping agreed to keep their trade war from escalating with a promise to halt the imposition of new tariffs for 90 days as the world’s two largest economies negotiate a lasting agreement.
World leaders need to fix global trading systems instead of trying to tear them down, International Monetary Fund (IMF) chief Christine Lagarde said Wednesday, in a rebuke to nationalist politicians pushing tariffs and protectionism.
The latest round of tariffs imposed by the Trump administration on US$200 billion worth of Chinese goods was met with a similar tariff on US$60 billion worth of American exports to China.