China, EU to talk trade amid tensions over Ukraine, Xinjiang | International Trade

Dialogue comes after a tense EU-China summit in April ended with no joint assertion.

China and the European Union will maintain high-level talks on the financial system and commerce amid tensions over the conflict in Ukraine, the remedy of ethnic minority Muslims in Xinjiang and an unratified funding deal.

Valdis Dombrovskis, government vp of the EU Fee, and Chinese language Vice Premier Liu He’ll co-chair the digital assembly involving financial officers from both sides on Tuesday afternoon, Beijing time.

“I stay up for co-chairing this essential occasion along with China Vice-Premier Liu He,” Dombrovskis mentioned on his Twitter account on Monday.

The dialogue comes after months of failed efforts to set a date for talks after the tense EU-China summit in April, throughout which the edges didn’t agree on a joint assertion amid divisions over the conflict in Ukraine and human rights considerations.

EU Excessive Consultant Josep Borrell described the April summit as a “dialogue of the deaf” after European officers didn’t safe reassurances that Beijing wouldn’t provide sensible help to Russia because it wages conflict in Ukraine.

China has criticised Western sanctions in opposition to Moscow and promised to push for peace in “its personal approach”.

In Might, the European Parliament voted to “freeze” a sweeping funding cope with China that was seven years within the making after Beijing slapped sanctions on European lawmakers in retaliation for the sanctioning of Chinese language officers accused of oppressing the Uighur inhabitants in Xinjiang province.

US, China talk trade, supply chains as Biden weighs tariff cuts | Business and Economy

United States Treasury Secretary Janet Yellen and Chinese language Vice Premier Liu He mentioned financial points together with worldwide commerce and provide chains, because the Biden administration considers reducing tariffs on Chinese language items to tame hovering inflation.

In a digital assembly together with her Chinese language counterpart on Tuesday, Yellen “frankly” raised considerations about China’s “unfair, non-market” financial insurance policies and Russia’s struggle in opposition to Ukraine, the US Treasury Division stated in a press release.

The 2 sides additionally mentioned the worldwide financial outlook amid rising commodity costs and meals safety challenges in the course of the name, which the Treasury Division described as “candid and substantive” and a part of efforts to “preserve open traces of communication”.

“The feedback from Yellen don’t appear to go a lot past what US officers have stated beforehand,” James Laurenson, director of the Australia-China Relations Institute, informed Al Jazeera.

“The problem is what the US goes to do past simply repeating the identical accusations. Loads of commerce regulation students argue there’s appreciable scope for searching for redress on the WTO however the US appears unenthusiastic in direction of the establishment. However extra unilateral sanctions received’t change Chinese language insurance policies and nor will they win the US plaudits even from shut allies like Japan and Australia, who stay dedicated to the WTO and its processes.”

Following the decision, China’s Ministry of Commerce stated the “pragmatic and frank” talks touched on the macroeconomic scenario and the soundness of world provide chains.

China additionally expressed considerations about US tariffs and sanctions in opposition to Chinese language corporations, the ministry stated, including that either side had agreed to proceed dialogue.

“As the worldwide economic system faces grim challenges, there’s a nice significance to strengthen the communication and coordination of the macro insurance policies between China and america,” the ministry stated in a press release.

“Safeguarding the soundness of world industrial chains and provide chains will serve the advantages of China, the US and the entire world.”

The talks come as US President Joe Biden weighs the potential for easing tariffs on Chinese language imports as a part of efforts to regulate hovering costs, that are rising at their quickest price in additional than 40 years.

Biden’s cupboard is reportedly break up on whether or not to ease tariffs, a few of which have been inherited from former President Donald Trump, who took intention at what he considered as unfair Chinese language commerce practices.

Yellen has publicly pressed Biden to scale back some tariffs, arguing they make “no strategic sense” and are “paid by Individuals, not by the Chinese language”.

Biden-Xi virtual meeting
US President Joe Biden and China’s Xi Jinping are anticipated to carry talks within the subsequent few weeks [File: Susan Walsh/AP Photo]

Deborah Elms, founder and government director of the Asian Commerce Centre in Singapore, described it as a constructive that officers from the world’s two largest economies are persevering with to fulfill.

“There is no such thing as a strategy to handle tensions if communication is dealt with by way of the media moderately than in particular person, or through Zoom,” Elms informed Al Jazeera.

“The US administration line on China has been, and can proceed to be, that China practises unfair commerce. Subsequently, it’s not a shock to have Yellen repeat the assertion. The large query, in fact, is what may be performed about it. Having discussions is a helpful first step however will have to be adopted up with greater than random conversations between authorities officers.”

On the G7 summit in Germany final month, US nationwide safety adviser Jake Sullivan stated Biden and Chinese language President Xi Jinping have been anticipated to carry talks within the coming weeks.

Gary Ng, a senior economist at Natixis in Hong Kong, stated the US and China are unlikely to veer from their rising rivalry regardless of dialogue or reductions in tariffs.

“Whereas it’s doable to see a rollback of tariffs on some merchandise, the US stays involved concerning the function of presidency subsidies and the progress of attaining aggressive neutrality for its corporations in China,” Ng informed Al Jazeera.

“These are structural points on whether or not the US corporations are handled equally versus the Chinese language counterparts with spillover results not solely in market entry in China but additionally the competitors on the earth. The dialogue might increase short-term sentiment, however it’s on no account a U-turn of the strategic competitors between the US and China.”

Turkey’s Erdogan says he will no longer talk to Greek PM | News

Turkish chief accuses Kyriakos Mitsotakis of recommending to US officers that Washington not promote F-16 fighter jets to Ankara.

Turkish President Recep Tayyip Erdogan has stated he’ll cease speaking to Greek Prime Minister Kyriakos Mitsotakis and cancel a key assembly between their two governments, accusing the Greek chief of antagonising Turkey.

In a televised deal with following a cupboard assembly on Tuesday, Erdogan accused Mitsotakis of recommending to US officers that Washington not promote F-16 fighter jets to Turkey throughout a latest go to to america.

Erdogan then went on to accuse Greece of harbouring followers of US-based non secular chief Fethullah Gulen, who Turkey says was behind a failed coup try in 2016, and of creating navy bases in opposition to Turkey. Gulen has lengthy denied the Turkish allegation.

“We had agreed to not embody third nations in our dispute with him. Regardless of this, final week, he had a go to to the US and talked on the Congress and warned them to not give F-16s to us,” Erdogan stated.

“He not exists for me. I’ll by no means agree to fulfill with him. We’ll proceed our manner with honourable politicians.”

Erdogan was apparently referring to a speech Mitsotakis delivered in Washington on Could 17, when he advised Congress that the US ought to keep away from creating a brand new supply of instability on NATO’s southeastern flank.

“The very last thing that NATO wants at a time when our focus is on serving to Ukraine defeat Russia’s aggression is one other supply of instability on NATO’s southeastern flank,” the Greek chief stated. “And I ask you to take this into account once you make defence procurement selections regarding the jap Mediterranean.”

Greece ‘gained’t get into confrontation’

Responding to Erdogan’s feedback, Greek authorities spokesman Yiannis Economou stated Athens “is not going to get right into a confrontation of statements with Turkey’s management.”

“Greek overseas coverage is strongly based on historical past, worldwide regulation and our alliances, nonetheless a lot which will annoy some,” he stated.

Greece and Turkey are NATO allies however have strained relations over a slew of points, together with competing maritime boundary claims that have an effect on power exploration rights within the jap Mediterranean.

Tensions flared in 2020 over exploratory drilling rights in areas within the Mediterranean Sea the place Greece and Cyprus declare their very own unique financial zone, resulting in a naval standoff.

Turkey additionally claims Greece is violating worldwide agreements by militarising islands within the Aegean Sea. Athens says it must defend the islands – a lot of which lie near Turkey’s coast – in opposition to a possible assault utilizing Turkey’s massive fleet of navy touchdown craft.

Officers from each nations resumed exploratory talks in 2021 after a five-year pause to put the groundwork for formal negotiations to start, however haven’t made a lot progress.

Greece this month formally prolonged its bilateral navy settlement with the US for 5 years, changing an annual overview of the deal that grants the US navy entry to 3 bases in mainland Greece in addition to the American naval presence on the island of Crete.

“Who’s Greece threatening with these bases? Why is Greece establishing these bases?” Erdogan requested.

Erdogan additionally reiterated that Turkey made a mistake by re-accepting Greece into NATO’s navy wing in 1980.

The Turkish chief has additionally not too long ago lashed out at Sweden’s and Finland’s requests to affix NATO, saying Turkey wouldn’t assist their bids.

Biden visit to test South Korean leader’s tough talk on China | International Trade News

Seoul, South Korea – Throughout campaigning in South Korea’s presidential election, Yoon Suk-yeol promised to strike a transparent path in his nation’s long-running dilemma over how one can stability relations with the US and China.

With the 2 international superpowers jostling for financial and navy supremacy in Asia, the candidate for the conservative Individuals Energy Occasion pledged to decisively aspect with its safety ally the US, even when it risked South Korea’s essential commerce relationship with China.

Yoon stated he would go so far as to develop the presence of a US missile defence system referred to as THAAD in South Korea, which sparked pricey unofficial sanctions on South Korean items and tradition by China and set off years of frosty relations.

Solely weeks after taking workplace on Could 10, Yoon will see his loyalties examined in his personal again yard on Friday, when US President Joe Biden visits Seoul as a part of a visit to Asia that additionally consists of Japan, one other US ally.

U.S. President Joe Biden delivers remarks, after paying respects and meeting with victims, family, first responders and law enforcement who were affected by the mass shooting committed by a gunman authorities say was motivated by racism, at Delavan Grider Community Center in Buffalo, NY.
US President Joe Biden’s upcoming go to to Seoul has highlighted South Korea’s tough balancing act between Washington and Beijing [File: Leah Millis/Reuters]

Biden’s go to comes as international commerce is going through strain from greater than two years of the COVID-19 pandemic and disruptions to vitality and meals provide chains resulting from Russia’s struggle on Ukraine.

China is by far South Korea’s largest buying and selling associate, taking greater than one-quarter of its exports, and Seoul depends on its large neighbour to energy key industries akin to chips and autos. South Korea additionally has a complete safety alliance with the US that dates again to the 1950-53 Korean Struggle. The nation nonetheless hosts roughly 28,000 American troops on its soil.

On the eve of his first assembly with Biden, Yoon, a former prosecutor with no political expertise previous to turning into president, seems to be shortly studying simply how troublesome it’s for the chief of an export-dependent, mid-sized Asia Pacific nation to stability commerce, safety and diplomatic priorities at a time of rising rivalry between the world’s two largest economies.

Although he talked robust on China earlier than taking workplace, Yoon’s early actions as president recommend he has reckoned with the necessity to stability South Korea’s alliance with the US with its commerce reliance on China. Notably, he seems to have walked again his attention-grabbing election marketing campaign promise to deploy extra THAAD batteries in South Korea, with the pledge omitted from a listing of governance duties just lately launched by his workplace.

He additionally held telephone talks with Chinese language President Xi Jinping earlier than taking workplace, throughout which the 2 leaders exchanged cordial statements about bilateral relations. Chinese language Vice President Wang Qishan travelled to Seoul to attend Yoon’s inauguration on Could 10, and earlier than his journey, China’s overseas ministry described the international locations as “shut neighbours” and “essential cooperation companions”.

Whereas in Seoul, Wang conveyed a letter from Xi inviting Yoon to make an official go to to China.

Xi Jinping
Chinese language President Xi Jinping has invited South Korea’s new president to go to Beijing [File: Andy Wong/AP]

Either side have an incentive to keep up the strong bilateral commerce of current years. Final 12 months, South Korea’s exports to China rose greater than 20 p.c, pushed by brisk shipments of semiconductors and metal.

In April, with main Chinese language cities underneath lockdown resulting from COVID-19, shipments declined 3.4 p.c from a 12 months earlier after gaining 16.6 p.c in March, in keeping with the South Korean commerce ministry.

In his dealings with China, Yoon is prone to search to navigate these financial headwinds whereas being cautious to not be seen as taking Beijing’s aspect over Washington.

“Growing US-China rivalry places Korea, and plenty of Southeast Asian international locations, in a troublesome place,” Erik Mobrand, a political scientist at Seoul Nationwide College, informed Al Jazeera. “The query is, if Yoon’s place on China brings financial retaliation, how does he reply to that?”

“It’s one factor to speak robust on China whereas campaigning,” Mobrand added. “It’s one other to make a press release or take motion as president and face the potential of responses from China.”

Ballot information signifies a souring of public opinion on China, notably amongst younger folks, who as voters have been a coveted demographic within the March presidential election.

In a survey carried out by present affairs journal Sisain and pollster Hankook Analysis in June, simply 26 p.c of respondents had heat emotions in direction of China, in contrast with 57 p.c who felt warmly in direction of the US.

Among the many causes for his or her unfavourable impression, respondents pointed to South Korea’s drawback with air air pollution – which many South Koreans blame on poorly regulated carbon-emitting factories in China – Beijing’s gradual response within the early levels of the coronavirus pandemic, and unlawful fishing by Chinese language vessels in South Korean waters.

Within the carefully fought election, Yoon appeared to intentionally faucet into this negativity with the hope of mobilising voters.
“Yoon’s emphasis on a forceful diplomatic strategy to China displays the present state of affairs the place the South Korean public’s impression of China may be very unfavourable,” Shin Jung-seung, a former South Korean ambassador to China, informed Al Jazeera.

“The emphasis on the alliance with the US is inevitable at a time when safety issues, just like the North Korean nuclear risk and the struggle in Ukraine, are rising. However that doesn’t imply that Yoon will neglect relations with China.”

Cooperation on commerce and infrastructure

Whereas in Seoul, Biden may search a dedication from Yoon to have South Korea be a part of the Indo-Pacific Financial Framework (IPEF), a proposed US-led physique that may facilitate cooperation on commerce and infrastructure between the US and Asia. South Korea is among the many international locations anticipated to participate, together with Japan, Australia and others.

Although the Biden administration has not but provided a transparent clarification of the precise capabilities of the IPEF, analysts have argued that the purpose of the physique is to assist the US counter rising Chinese language financial clout in Asia.

In feedback to South Korea’s legislature on Monday, Yoon indicated that he’ll talk about the IPEF throughout Biden’s go to and that he’s in favour of South Korea becoming a member of. On Wednesday, the presidential Blue Home confirmed that Yoon will just about attend a summit in Tokyo subsequent week the place Biden will formally launch the initiative.

Biden’s journey will subsequently require cautious messaging from Yoon as he makes an attempt to stability relations with Washington and Beijing, however can be an opportunity for the brand new South Korean chief to make good on guarantees he made on the marketing campaign path.

“Yoon desires to develop the US-South Korea alliance and make it extra complete, which implies having a higher curiosity within the Indo-Pacific and a higher connection in chosen areas, akin to COVID or provide chain resilience,” Mason Richey, a professor of politics at Hankuk College of Overseas Research in Seoul, informed Al Jazeera.

“Yoon might want to again up this coverage choice when Biden involves the area.”