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Category: trade

US, China reach ‘framework’ of trade deal, Bessent says

Treasury Secretary Scott Bessent said Sunday that the U.S. and China will likely avoid 100 percent American tariffs on Chinese good after negotiators settled on a plan for a possible trade agreement. Bessent told NBC News’ Kristen Welker that “after two days of negotiations” with Chinese International Trade Representative Li Chenggang in Malaysia, a “framework”…

DTI readies safeguard duty on imported cement

MANILA, Philippines – The Department of Trade and Industry (DTI) intends to impose a safeguard duty on cement imports to ensure a level playing field and protect the local industry. In a statement on Tuesday, the DTI said imported cement will be slapped with a safeguard duty of P14 per 40-kilogram bag of Ordinary Portland

US set to charge fees on Chinese ships in a bid to save shipyards

NEW YORK, United States – An escalating trade war between China and the United States faces another flashpoint Tuesday when Chinese ships will be required to start paying a special fee to dock at US ports. The move announced by the US Trade Representative (USTR) in April triggered reciprocal measures from Beijing, which will impose