Weekly Update on Opportunities and Risk for Companies doing business in China & Southeast Asia. This weeks summary covers the China International Import Expo begins in Shanghai, China’s service sector growth rate, UN Probe on China Human Rights Record, China-Russia Confirm Arms Deals at Zhuhai Airshow, China unveils ‘world’s first’ AI news anchor, and Mattis, Pompeo, meet with Chinese leadership in Washington….
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Formula One (F1) Racing is considered one of the most popular sports in the world. It’s viewership in 2017 exceeded 340 million unique viewers, which surpasses the highly popular National Football League (NFL). F1, which represents the pinnacle of the vehicle racing world, showcases multi-million dollar open air rocket ships made possible from teams of multinational enthusiasts doing their part to ensure the continued existence of the sport.
Following the latest round of American tariffs on Chinese goods July 5, Beijing responded with retaliatory tariffs imposed on July 6, adding a 25% duty targeting American soybeans, meat, and vehicles. US farm produce, especially beef and high-end steaks, is expected to take a significant hit as exports to China becomes increasingly more expensive. The duty rate on US beef to China is being tripled from 12% to 37%, just as US beef was beginning to reemerge as a strong player in Chinese markets. – Dillon Billingham
The Friday, July 5 deadline of US president Donald Trump’s $34 billion USD tariffs on Chinese goods has already started causing trouble for American businesses in China. Smaller firms have been struggling with new obstacles in customs, regulations, inspections, and licensing applications. For a more detailed summary and our analysis, read more here.
The most recent round of US-China trade talks ended on Sunday, June 3 without any signed trade deals. Some reports earlier this week claimed that China agreed to buy more agricultural products, including soy beans and corn as well as energy products such as natural gas. – Ziqing Zhang
On January 23, 2018, President Donald Trump approved two decisions imposing tariffs and quotas on solar cells and washers. These tariffs may adversely affect U.S. consumers through increased import prices and are likely to spark retaliatory polices by many of the U.S. trading partners in Asia. This began when the current administration approved safeguard measures, pursuant…
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