The Canadian prime minister, Mark Carney, has warned that the era of free trade and investment that formed the foundations of the postwar global economy has ended. In a stark message to Asia-Pacific leaders at the Apec summit in South Korea on Friday, Carney said rules-based open trade no longer worked in a global economy that was undergoing one of its most profound periods of change since the fall of the Berlin Wall in 1989. “The old world of steady expansion of rules-based liberalised trade and investment, a world on…
Tag: Xi Jinping
Why is Trump talking about nuclear weapons? – podcast
Less than an hour before Donald Trump met the Chinese president, Xi Jinping, to discuss a deal that could end the trade war between the two superpowers, the US president posted on Truth Social that he had directed the Pentagon to match Russia and China in nuclear weapons testing. Jonathan Freedland speaks to Jonathan Czin, the former director for China at the National Security Council, about why Trump did this and whether he or Xi left South Korea feeling the strongest The Guardian
The Guardian view on Trump and China: stepping back from the brink, but not solving problems | Editorial
The diverging verdicts offered by the Chinese and American leaders after their talks in South Korea on Thursday reflected more than the chasms between their personal styles and political cultures. Donald Trump gushed about an “amazing” meeting, scoring it 12 out of 10; Xi Jinping reportedly noted that a consensus had been reached, with the two sides needing to finalise follow-up steps rapidly. Mr Trump’s usual trade approach – shout loudly and wave a big stick – faltered when Beijing raised its own bludgeon. No tribute of gold crowns or…
Trump-Xi meeting shows price of confrontation was too high for both sides
Outcome appears closer to truce than durable peace but outline of broader diplomatic relationship is visible Five key takeaways from Trump-Xi meeting When Donald Trump launched his trade war against China in April, threatening tariffs as high as 145%, the Chinese government said it would never bow to blackmail and vowed to “fight to the end”. The question now is whether the consensus reached between Trump and Xi Jinping in Busan, South Korea, on Thursday means that the fight really has come to an end, and if so on whose…
Five key takeaways from Donald Trump’s meeting with Xi Jinping
As Donald Trump flew out of Busan airport in South Korea after his meeting with China’s Xi Jinping, the US president sounded upbeat about progress made during less than two hours of talks. Trump discussed the outcome of the meeting, which he described as a 12 on a scale of one to 10, with “an outstanding group of decisions made”. He added: “We’ve come to a conclusion on many important points.” A Chinese statement quoted Xi saying the two countries had “good prospects for cooperation”, and relations had maintained “overall…
Trump directs Pentagon to match Russia and China in nuclear weapons testing
Donald Trump has instructed the Pentagon to immediately start matching other nuclear powers in their testing of nuclear weapons, specifically citing Russia and China. In a post to Truth Social, Trump said that “because of other countries’ testing programs, I have instructed the Department of War to start testing our Nuclear Weapons on an equal basis. That process will begin immediately.” The post came less than an hour before Trump met the Chinese president, Xi Jinping, in South Korea on Thursday morning in an effort to come to a trade…
‘We don’t always see eye to eye’: Xi and Trump on crunch trade talks – video
Donald Trump said the US and China had agreed ‘to a lot of things’ during trade talks in South Korea, and would be having further discussions. The US president described Xi Jinping as ‘distinguished and respected’, while the Chinese leader said: ‘We do not always see eye to eye with each other, and it is normal.’ Trump hailed the trade talks as ‘amazing’, saying the dispute over the supply of rare earths had been settled and that he would visit China in April The Guardian
Trump-Xi meeting: US president says rare earths deal and tariff reduction agreed in crunch trade talks
Donald Trump has described crucial trade talks with the Chinese president, Xi Jinping, in South Korea as “amazing”, saying their dispute over the supply of rare earths had been settled and that he would visit China in April. In early comments, Chinese state media reported Xi as saying a “consensus” with Trump had been reached on trade issues, and that there were good prospects for cooperation on trade, immigration and fraud. After their meeting, the two shook hands and Trump immediately boarded Air Force One to return to Washington. He…
Donald Trump and Xi Jinping hold meeting in South Korea amid hopes for trade deal – live updates
From 34m ago Trump and Xi shake hands Donald Trump and Xi Jinping have greeted each other and shaken hands. Trump said Xi was a “very tough negotiator and that’s not good”. In the comment to reporters in Busan before the meeting got under way, the US president also said: “We have a great relationship.” Asked if he planned to sign a trade deal, Trump said: “Could be.” The Chinese president didn’t make any comments. Share Updated at 22.16 EDT <gu-island name="KeyEventsCarousel" priority="feature" deferuntil="visible" props="{"keyEvents":[{"id":"6902ca9e8f0860207cef1005","elements":[{"_type":"model.dotcomrendering.pageElements.TextBlockElement","html":" At the table for the talks…
EU carmakers ‘days away’ from factories halting work in chip war with China
Industry body says reserves of Nexperia semiconductors are dwindling after Beijing bans exports of key components Carmakers in the EU are “days away” from closing production lines, the industry has warned as a crisis over computer chip supplies from China escalates. The European Automobile Manufacturers’ Association (ACEA) issued an urgent warning on Wednesday saying its members, which include Volkswagen, Fiat, Peugeot and BMW, were now working on “reserve stocks but supplies are dwindling”. Continue reading… The Guardian