Latest news with #Jinping
Al Etihad
07-06-2025
- Business
- Al Etihad
China allows limited exports of rare earths as shortages continue
7 June 2025 09:39 BEIJING (THE NEW YORK TIMES NEWS SERVICE)China's Ministry of Commerce has started issuing more export licenses for shipments of rare earth magnets in recent days, but the pace remains factories in the automotive sector and other industries in Europe and the United States, and a few in Japan, are running low on the makes 90% of the world's supply of these magnets, which are essential for cars, drones, factory robots, missiles and many other a 90-minute call Thursday with Chinese PresidentXi Jinping, US President Donald Trump wrote on social media that the two men had discussed rare earths. Trump mentioned that rare earths were a complex subject, but did not indicate whether anything had been decided about China's strict export licensing requirement, which Beijing imposed April wrote on social media Friday that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US trade representative Jamieson Greer would hold further economic talks Monday in London with top Chinese Trump was asked later on Air Force One whether Xi had agreed to allow rare earth minerals and magnets to flow to the US, Trump replied, 'Yes, he did,' but did not statement Thursday about the call did not mention rare earths, however. Lin Jian, a spokesperson for China's foreign ministry, declined to answer a question about the minerals Friday at the ministry's daily briefing, saying that it was a matter for other Chinese Ministry of Commerce said Thursday before the two leaders spoke only that it would issue export licenses according to its new rules, introduced two months US and European chambers of commerce in China each said Friday that somewhat more export licenses had been issued in recent days. But both groups emphasised that more were needed, as the Ministry of Commerce faces a huge backlog of detailed applications for licenses. Rare earth metals, a group of 17 elements found near the bottom of the periodic table, have a wide range of industrial applications. China produces practically the entire world's supply of seven of the least common rare earths, including three that are crucial in making powerful, heat-resistant magnets.
News18
03-06-2025
- Business
- News18
Donald Trump Likely To Speak With Xi Jinping This Week Amid US-China Tariff Tensions
Last Updated: Donald Trump is likely to speak with Xi Jinping "very soon" amid the ongoing tariff war between the US and China, the White House said. US President Donald Trump is likely to speak with his Chinese counterpart, Xi Jinping, this week, White House Press Secretary Karoline Leavitt said on Monday. This comes days after Trump accused the rival country of breaking a deal to reduce tariffs and trade limits. The agenda of the call is likely to sort out disagreements over last month's tariff deal made in Geneva, besides other major trade issues between the two countries. However, it was not entirely clear when Trump and Jinping would speak. Leavitt is the third top US official to confirm Trump's possible call with Jinping, after the President himself and Treasury Secretary Scott Bessent. Bessent told CBS News on Sunday that Trump and Jinping would talk to each other 'very soon" to discuss the trade differences, which also include a dispute over critical minerals and Beijing's restrictions on exports of certain minerals. Trump said last week on Friday that he was sure he would speak with his Chinese counterpart. Bessent led the trade talks with China in Geneva last month, which resulted in a temporary pause in the trade war between the two economic giants, however, the progress has been slow since then, the US Treasury chief said in an interview with Fox News last week. The announcement of the US-China deal to put on hold the retaliatory high tariffs on each other for 90 days sparked a big rally in global stock markets. However, it didn't solve the main reasons behind Trump's tariffs on Chinese products — especially U.S. concerns about China's state-controlled, export-focused economy. Such issues are yet to be discussed in future conversations between the two leaders. Last week, a US trade court ruled that Trump went beyond his legal powers when he imposed most of his tariffs on imports from China and other countries, including India, using emergency law on April 2. However, a federal appeals court put that decision on hold and brought the tariffs back, stating that it needed time to review the government's appeal. The appeals court gave the challengers until June 5 to respond, and the Trump administration until June 9. First Published: June 03, 2025, 07:05 IST
Mint
19-05-2025
- Business
- Mint
China asks officials to spend less on cigarettes, alcohol and travel; Here's why
China has instructed its officials once again to slash wasteful spends on travel, food as well office spaces, the official Xinhua News Agency said on Sunday. As a the Bloomberg report quoting the Chinese news agency, the noticed issued by the government asks officials to specifically cut costs on alcohol and cigarettes. The latest instructions, as per Bloomberg, comes as added signs of an austerity push by President Xi Jinping amid economic headwinds that strain government budgets. The regulations also reinforce the ruling Communist Party's stance on officials having to reduce expenditure at a time when land sale revenues are declining, putting pressure on budget as local authorities stare at significant debts. Chinese authorities in 2023 had asked its officials to embrace austerity measures, in a move to strengthen Jinping's drive to fight corruption. The latest notice issued by the government for 'strict diligence and thrift, and opposes extravagance and waste,' as per the Chinese news agency. It reportedly added that 'waste is shameful and economy is glorious.' Last year, Beijing kicked off its largest effort in years to address risks from local-authority debt, a move aimed at cutting default risks and giving local governments room to support economic growth. A measure consumer staples stocks led was the biggest loser among the benchmark CSI 300 Index's sub-groups on Monday, slumping as much as 1.7 per cent, according to Bloomberg. Kweichow Moutai Co. retreated as much as 2.4 per cent, the most in six weeks. Meanwhile, global investment banks are raising their forecasts for China's economic growth this year, after Beijing and Washington agreed to a 90-day pause on tariffs, despite uncertainty around Sino-US trade negotiations. China's official target for full-year GDP is around 5.0 per cent. Citi has upgraded it to 4.7 per cent from 4.2 per cent, Goldman Sachs revised it to 4.6 per cent from 4.0 per cent and JP Morgan revised from 4.1 per cent to 4.8 per cent. (With Bloomberg, Reuters inputs)
Shafaq News
17-05-2025
- Politics
- Shafaq News
China's President hails Baghdad Summit, pledges deeper Arab cooperation
Shafaq News/ Chinese President Xi Jinping on Saturday congratulated Iraq and the Arab League for the successful conclusion of the 34th Arab League Summit in Baghdad, reaffirming China's commitment to expanding strategic cooperation ahead of the next China-Arab States Summit in 2026. In a message to Iraqi President Abdul Latif Jamal Rashid, Jinping praised the Arab League's eight-decade legacy of promoting unity, sovereignty, and peace, stating, 'The Arab League has championed solidarity, self-reliance, and the collective voice of the Arab people.' Jinping underscored the rising influence of Arab nations in global affairs, crediting them with advancing justice, defending multilateralism, and amplifying the voice of the Global South amid international upheaval. He also described the China-Arab partnership as 'a model for cooperation among developing countries,' citing the 2022 summit in Riyadh as a foundation for joint progress. Looking ahead, Jinping voiced optimism that the 2026 summit in China would further elevate the relationship, calling it 'another historic milestone.' Pledging continued support for Arab priorities, the Chinese President vowed to strengthen political trust, expand trade and investment, deepen cultural ties, and support shared modernization goals, affirming, 'China will remain a reliable partner to Arab nations.' The Baghdad Summit on Saturday gathered six heads of state and senior officials—including prime ministers, foreign ministers, and special envoys—from across the Arab world.
Indian Express
13-05-2025
- Politics
- Indian Express
Protracted conflict between India and Pakistan will mean tough choices for Russia and China
Written by Amit Kumar and Manoj Kewalramani On the intervening night of May 7 and May 8, India launched Operation Sindoor in response to a Pakistan-sponsored terror attack in Pahalgam, which claimed 26 innocent lives. India hit nine terror camps spread across Pakistan and Pakistan-occupied Jammu and Kashmir (PoJK). India's strikes overlapped with Chinese President Xi Jinping's three-day visit to Russia. While the ensuing India-Pakistan conflict, which continued for another three days, was being watched closely around the world, it has certain ramifications for China-Russia relations as well. Jinping landed in Moscow on May 7, hours before India launched Operation Sindoor, to attend what Russia described as 'grandest ever' annual victory day parade on May 9 as its guest of honour. It marked his 11th visit to Russia since taking office in 2013. More than anything else, the visit was aimed at projecting and reaffirming the strength of the China-Russia relationship amid a turbulent external environment and shifting US policy. Despite the speculation around a potential rapprochement between Washington and Moscow amid the Trump administration's outreach, Russia's ties with the West remain difficult. Vladimir Putin has clear incentives to seek a rebalanced relationship with the US. But there is little certainty that any deal to that effect will be sustainable, given the deep antipathy towards Russia across the American domestic political spectrum. On the other hand, China believes it is locked in all-round strategic competition with the US. Jinping articulated this clearly in March 2023 during the session of the National People's Congress. China's framing of its response to Trump's 'Liberation Day' tariffs as a 'protracted war' are also indicative of this, as are its responses to US policy with regard to Taiwan and the Indo-Pacific at large. These concerns were reflected in three joint declarations that were issued after the Xi-Putin meeting. Each of these specifically underscore the threat perception with regard to the US, which Russia and China believe is pursuing a policy of 'dual containment'. A key component of this, the two sides argued, is the expansion of NATO, including in the Asia-Pacific. In fact, both sides were blunt in articulating that 'one of the strategic risks urgently needing elimination is the expansion of military alliances by certain nuclear-weapon states in sensitive regions surrounding other nuclear-weapon states'. Despite this strategic convergence, analysts and observers have, from time to time, pointed to existing tensions in China-Russia relationship. One such uncomfortable issue is the divergences in their outlooks with regard to India-Pakistan relations. The cross-cutting geopolitical cleavages involving the four countries complicate the China-Russia dynamics. Russia shares a 'privileged strategic partnership' with India, rooted in the experiences of the Cold War years. New Delhi is also Moscow's only major friend besides Beijing. This was evident in its reference to India, alongside China, as 'friendly sovereign global centers of power' in its Foreign Policy Concept paper released in 2023. Iran or North Korea, while close to Russia, are outcasts in the international order without any economic clout. Notwithstanding the friction in India-Russia relations owing to New Delhi's growing proximity and strategic convergence with Washington, bilateral relations remain strong. This has been evident in India's resistance amid pressure from the West since the war in Ukraine began, as it continued to engage Russia. Moreover, Russia's deep ties with India also serve as a strategic hedge vis-a-vis China. The Russia-Pakistan relationship, on the other hand, inherited the troubled past from the Cold War years. As a treaty ally of the US, Islamabad not only served as the base for American surveillance of Soviet territory but also played a central role in launching the Mujahideen resistance against the Soviet invasion of Afghanistan. India-Pakistan enmity only compounded Moscow's calculations vis-a-vis Islamabad in the subsequent years. While Russia-Pakistan ties have improved since, the partnership is largely symbolic at present. China, in contrast, has a deep and long-standing relationship with Pakistan. The China-Pakistan entente, which began in early 1960s was, in large part, a product of a shared sense of strategic antipathy vis-a-vis India. Since then, the two have formed a symbiotic relationship, which is led by close defence ties. Today, Pakistan depends on China to achieve parity in conventional terms vis-a-vis India. Meanwhile, China counts on Pakistan to keep India preoccupied on its western border, thereby complicating New Delhi's resource allocation calculus and threatening a two-front confrontation. As the India-Pakistan conflict escalated rapidly after Indian strikes inside Pakistani territory on May 7, both China and Russia called for restraint and an early diffusion of the situation. China underlined that the situation was 'regrettable,' while calling on 'both sides to act in the larger interest of peace and stability'. Russia also took a similar tone, expressing that it was 'deeply concerned by the heightened military tensions' and called for 'restraint'. There were, however, important differences in their description of the source of the problem. Russia was categorical in terming the Pahalgam attack as an act of terrorism, while Beijing eschewed such framing. In fact, it was only on Saturday after the ceasefire was agreed that the Chinese government acknowledged that the Pahalgam attack was an act of terrorism. In any case, a protracted conflict between India and Pakistan will certainly mean tough choices for Moscow and Beijing. Beyond their different diplomatic stakes with India and Pakistan, Russia remains one of the largest weapons suppliers to India, while China is Pakistan's dominant defence partner. A prolonged war would likely result in India and Pakistan pressuring each of them to rush supplies and fulfill pending orders. Of course, this also gives both Beijing and Moscow some leverage over Islamabad and New Delhi respectively. Nevertheless, given their own strategic and security challenges, it is likely that China and Russia would prefer avoiding a situation like this. From a strategic perspective too, a lengthy conflict in the Indian subcontinent might further strengthen the US's role in the region, which would be a perverse outcome for both China and Russia. Kumar is a research analyst with Takshashila's Indo-Pacific Studies programme. Kewalramani is Fellow, China Studies and chairs the Indo-Pacific Studies programme at Takshashila Institution
