China's foreign minister criticizes US tariffs

Chinese Foreign Minister spoke Friday after President Donald Trump said he will impose 10% tariffs Sept. 1 on the remaining $300 billion in Chinese imports he hasn't already taxed. (Shutterstock)
Updated 02 August 2019

China's foreign minister criticizes US tariffs

  • Chinese Foreign Minister Wang Yi has criticized President Donald Trump's proposed tariff hike
  • The president has already imposed 25% tariffs on $250 billion in Chinese products, and Beijing has retaliated by taxing $110 billion in U.S. goods

WASHINGTON: The Latest on President Donald Trump's plan to impose tariffs beginning Sept. 1 on the $300 billion in Chinese imports he hasn't already hit with taxes (all times local):

Midnight

Chinese Foreign Minister Wang Yi has criticized President Donald Trump's proposed tariff hike. "Imposing tariffs is definitely not the right way to resolve trade frictions," Wang told reporters in Bangkok, where he was attending a meeting of the Association of Southeast Asian Nations.

He spoke Friday after President Donald Trump said he will impose 10% tariffs Sept. 1 on the remaining $300 billion in Chinese imports he hasn't already taxed.

The president has already imposed 25% tariffs on $250 billion in Chinese products, and Beijing has retaliated by taxing $110 billion in U.S. goods.

7:30 p.m.
U.N. Secretary-General Antonio Guterres says he's worried about tensions between the world's two largest global economies — the United States and China.

The U.N. chief told reporters Thursday: "We need to learn the lessons of the Cold War and avoid a new one." "Looking into the not so distant future," Guterres said, "I see the possibility of the emergence of two competing blocs —- each with their own dominant currency, trade and financial rules, their own internet and artificial intelligence strategy, and their own contradictory geopolitical and military views."

The secretary-general said there is still time to avoid this scenario, reiterating that "with leadership committed to strategic cooperation and to managing competing interests, we can steer the world onto a safer path." Guterres spoke shortly before Trump's tweet on tariffs against China.

4:43 p.m.
Retailers are lining up against the proposed tariffs. "We are disappointed the administration is doubling-down on a flawed tariff strategy that is already slowing U.S. economic growth, creating uncertainty and discouraging investment," said David French, senior vice president for government relations at the National Retail Federation.

"These additional tariffs will only threaten U.S. jobs and raise costs for American families on everyday goods. "The tariffs imposed over the past year haven't worked, and there's no evidence another tax increase on American businesses and consumers will yield new results."

4:12 p.m.
Moody's Investors Service is warning that Trump's planned tariffs will prove to be an economic drag. "The escalation of trade tensions will increasingly weigh on the global economy and supply chains in an environment of already decelerating growth in the U.S., the euro area and China," said Elena Duggar, Moody's associate managing director.

"The tariffs will be credit negative for a number of U.S. sectors, including computers and electronics, manufacturing and apparel and leather."

3:42 p.m.
The top Democrat on the Senate Finance Committee denounced Trump's plan. "I am always first in line for getting tough on China," said Sen. Ron Wyden of Oregon. "But Trump doesn't have any strategy to get China to stop cheating on trade. The only thing he knows how to do is raise tariffs.

"The tariffs announced today will raise costs on everything from computers to backpacks to clothes as kids go back to school, without any reason to think that it will make China stop stealing our technology and undercutting American jobs."


Philippines and India agree to strengthen defense, security ties

In this handout photograph taken and released by Indian Presidential Palace on October 18, 2019, India's President Ram Nath Kovind (C-L) attends a press conference with Philippines' President Rodrigo Duterte (C-R) at Malacanan Palace in Manila. (AFP)
Updated 20 October 2019

Philippines and India agree to strengthen defense, security ties

  • The two leaders agreed to strengthen maritime security ties

MANILA: The Philippines and India have agreed to boost defense and security cooperation following talks between President Rodrigo Duterte and his Indian counterpart Ram Nath Kovind on Friday.
Kovind is in Manila as part of a five-day official visit to the Philippines that began on Thursday.
In a joint statement, Duterte said he and Kovind have committed to building a “partnership” between the Philippines and India “that enables us to face challenges to our hard-won progress, jointly and effectively.”
As Duterte welcomed India’s role in his country’s defense capability upgrade program, against the backdrop of growing security cooperation, he said they have agreed “to continue working together to fight terrorism and violent extremism and other transboundary threats.”
Kovind said “both of our countries have been victims of terrorism,” and the two leaders “committed to work closely to defeat and eliminate terrorism in all its forms
and manifestations.”
He added: “As two vibrant democracies that believe in a rules-based international order, respect for international law and sovereign equality of nations, the Philippines and India are natural partners in the pursuit of their respective national development and security objectives.”
The two leaders also agreed to strengthen maritime security ties.
“As countries strategically located in the Pacific and Indian oceans, we affirmed our shared interest to protect our maritime commons and advance the rule of law in our maritime domains,” Duterte said.

BACKGROUND

Indian President Ram Nath Kovind said ‘both of our countries have been victims of terrorism,’ and the two leaders ‘committed to work closely to defeat and eliminate terrorism in all its forms and manifestations.’

He added that they also discussed “the most pressing concerns of our region and beyond, such as maritime security and economic integration.”
Following their meeting, they witnessed the signing of maritime, tourism, science, technology and cultural agreements.
Among them was a memorandum of understanding between the Philippine Coast Guard and the Indian Navy to enhance maritime security by sharing information on nonmilitary and nongovernment shipping vessels between the two countries.
“With the signing of bilateral agreements, we have likewise widened the path toward enhancement of our engagement in maritime security, science and technology, tourism and cultural cooperation,” Duterte said.
“We hope to look back on this day as a milestone in our relations, the day when we set out to turn promise into reality, and potential into concrete benefits that bring the greatest positive impact on the lives of our peoples.”