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Asahi Shimbun
07-06-2025
- Business
- Asahi Shimbun
Japan-U.S. tariff talks still draw a blank at fifth meeting
Ryosei Akazawa, right, Japan's chief tariff negotiator, meets with U.S. Commerce Secretary Howard Lutnick in Washington, D.C., on June 5. (provided by U.S. Department of Commerce) WASHINGTON--Japan and the United States failed to find common ground in their fifth round of talks on Washington's high tariff policy, according to Japan's top negotiator Ryosei Akazawa. 'We confirmed once again the position of Japan and the U.S., and further progress was made in discussions toward the realization of an agreement,' said Akazawa, minister in charge of economic revitalization, after meeting with U.S. Cabinet members here on June 6. 'But we have not found any point of agreement.' Akazawa was visiting the United States for the third consecutive week. This time around, he met with U.S. Treasury Secretary Scott Bessent for 45 minutes and then with Commerce Secretary Howard Lutnick for 1 hour and 50 minutes. Akazawa also met with Lutnick for 1 hour and 50 minutes the day before. After the latest talks, Akazawa told reporters that he had again called strongly for the elimination of the Trump administration's tariff policy. He said the discussions focused on trade expansion, nontariff measures, and economic and security cooperation. Akazawa added that both sides confirmed they 'will coordinate vigorously to reach an agreement that is beneficial to both the U.S. and Japan.' Prime Minister Shigeru Ishiba and U.S. President Donald Trump are scheduled to hold face-to-face talks on the sidelines of the Group of Seven summit in Canada on June 15-17. 'The timing of the summit was much on our minds during the negotiations,' Akazawa said, He said the two leaders will be given an update on the progress of the talks before their summit meeting. His remarks were seen as an indication that the G-7 summit is being considered for an announcement on a de facto agreement. Akazawa noted that the Japanese economy continues to take a battering from Trump's tariffs. He added, 'If the tariff measures can be reviewed, we have no intention of waiting until the summit.' In reality, however, with only a little more than a week to go before the talks are held, it remains to be seen how both parties can get closer. (This article was written by Chinami Tajika, and correspondent Ken Sakakibara.)
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First Post
06-06-2025
- Business
- First Post
US suspends licenses to ship nuclear plant parts to China amid trade tensions
The United States has suspended licenses allowing companies to export nuclear power plant equipment to China. The move, taken by the US Department of Commerce, marks a sharp escalation in the ongoing trade and technology war between the two superpowers. read more The U.S. in recent days suspended licenses for nuclear equipment suppliers to sell to China's power plants, according to four people familiar with the matter, as the two countries engage in a damaging trade war. The suspensions were issued by the U.S. Department of Commerce, the people said, and affect export licenses for parts and equipment used with nuclear power plants. Nuclear equipment suppliers are among a wide range of companies whose sales have been restricted over the past two weeks as the U.S.-China trade war shifted from negotiating tariffs to throttling each other's supply chains. It is unclear whether a Thursday call between U.S. President Donald Trump and Chinese President Xi Jinping would affect the suspensions. STORY CONTINUES BELOW THIS AD The U.S. and China agreed on May 12 to roll back triple digit, tit-for-tat tariffs for 90 days, but the truce between the two biggest economies quickly went south, with the U.S. claiming China reneged on terms related to rare earth elements, and China accusing the U.S. of 'abusing export control measures' by warning that using Huawei Ascend AI chips anywhere in the world violated U.S. export controls. After Thursday's call, further talks on key issues were expected. The U.S. Department of Commerce did not respond to a request for comment on the nuclear equipment restrictions. On May 28, a spokesperson said the department was reviewing exports of strategic significance to China. 'In some cases, Commerce has suspended existing export licenses or imposed additional license requirements while the review is pending,' the spokesperson said in a statement. The Chinese Embassy in Washington did not immediately respond to a request for comment. U.S. nuclear equipment suppliers include Westinghouse and Emerson. Westinghouse, whose technology is used in over 400 nuclear reactors around the world, and Emerson, which provides measurement and other tools for the nuclear industry, did not respond to requests for comment. The suspensions affect business worth hundreds of millions of dollars, two of the sources said. They also coincide with Chinese restrictions on critical metals threatening supply chains for manufacturers worldwide, especially America's Big Three automakers. Reuters could not determine whether the new restrictions were tied to the trade war, or if and how quickly they might be reinstated. Department of Commerce export licenses typically run for four years and include authorized quantities and values. STORY CONTINUES BELOW THIS AD But many new restrictions on exports to China have been imposed in the last two weeks, according to sources, and include license requirements for a hydraulic fluids supplier for sales to China. Other license suspensions went to GE Aerospace for jet engines for China's COMAC aircraft, sources said. The U.S. also now requires licenses to ship ethane to China, as Reuters reported first last week. Houston-based Enterprise Product Partners said Wednesday that its emergency requests to complete three proposed cargoes of ethane to China, totaling some 2.2 million barrels, had not been granted. Reuters could not determine whether the new restrictions were tied to the trade war, or if and how quickly they might be reinstated. Department of Commerce export licenses typically run for four years and include authorized quantities and values. But many new restrictions on exports to China have been imposed in the last two weeks, according to sources, and include license requirements for a hydraulic fluids supplier for sales to China. STORY CONTINUES BELOW THIS AD Other license suspensions went to GE Aerospace for jet engines for China's COMAC aircraft, sources said. The U.S. also now requires licenses to ship ethane to China, as Reuters reported first last week. Houston-based Enterprise Product Partners (EPD.N), opens new tab said Wednesday that its emergency requests to complete three proposed cargoes of ethane to China, totalling some 2.2 million barrels, had not been granted.
Yahoo
06-06-2025
- Business
- Yahoo
Exclusive-US suspends licenses to ship nuclear plant parts to China, sources say
By Karen Freifeld and Fanny Potkin (Reuters) -The U.S. in recent days suspended licenses for nuclear equipment suppliers to sell to China's power plants, according to four people familiar with the matter, as the two countries engage in a damaging trade war. The suspensions were issued by the U.S. Department of Commerce, the people said, and affect export licenses for parts and equipment used with nuclear power plants. Nuclear equipment suppliers are among a wide range of companies whose sales have been restricted over the past two weeks as the U.S.-China trade war shifted from negotiating tariffs to throttling each other's supply chains. It is unclear whether a Thursday call between U.S. President Donald Trump and Chinese President Xi Jinping would affect the suspensions. The U.S. and China agreed on May 12 to roll back triple digit, tit-for-tat tariffs for 90 days, but the truce between the two biggest economies quickly went south, with the U.S. claiming China reneged on terms related to rare earth elements, and China accusing the U.S. of "abusing export control measures" by warning that using Huawei Ascend AI chips anywhere in the world violated U.S. export controls. After Thursday's call, further talks on key issues were expected. The U.S. Department of Commerce did not respond to a request for comment on the nuclear equipment restrictions. On May 28, a spokesperson said the department was reviewing exports of strategic significance to China. "In some cases, Commerce has suspended existing export licenses or imposed additional license requirements while the review is pending," the spokesperson said in a statement. The Chinese Embassy in Washington did not immediately respond to a request for comment. U.S. nuclear equipment suppliers include Westinghouse and Emerson. Westinghouse, whose technology is used in over 400 nuclear reactors around the world, and Emerson, which provides measurement and other tools for the nuclear industry, did not respond to requests for comment. The suspensions affect business worth hundreds of millions of dollars, two of the sources said. They also coincide with Chinese restrictions on critical metals threatening supply chains for manufacturers worldwide, especially America's Big Three automakers. Reuters could not determine whether the new restrictions were tied to the trade war, or if and how quickly they might be reinstated. Department of Commerce export licenses typically run for four years and include authorized quantities and values. But many new restrictions on exports to China have been imposed in the last two weeks, according to sources, and include license requirements for a hydraulic fluids supplier for sales to China. Other license suspensions went to GE Aerospace for jet engines for China's COMAC aircraft, sources said. The U.S. also now requires licenses to ship ethane to China, as Reuters reported first last week. Houston-based Enterprise Product Partners said Wednesday that its emergency requests to complete three proposed cargoes of ethane to China, totaling some 2.2 million barrels, had not been granted. Enterprise said a May 23 requirement for a license to sell butane to China, in addition to the ethane, was subsequently withdrawn. Dallas-based Energy Transfer said it was notified on Tuesday about the new ethane licensing requirement, and planned to apply and file for an emergency authorization. Other sectors that have been hit with new restrictions include companies that sell electronic design automation software such as Cadence Design Systems.
Yahoo
06-06-2025
- Business
- Yahoo
Exclusive-US suspends licenses to ship nuclear plant parts to China, sources say
By Karen Freifeld and Fanny Potkin (Reuters) -The U.S. in recent days suspended licenses for nuclear equipment suppliers to sell to China's power plants, according to four people familiar with the matter, as the two countries engage in a damaging trade war. The suspensions were issued by the U.S. Department of Commerce, the people said, and affect export licenses for parts and equipment used with nuclear power plants. Nuclear equipment suppliers are among a wide range of companies whose sales have been restricted over the past two weeks as the U.S.-China trade war shifted from negotiating tariffs to throttling each other's supply chains. It is unclear whether a Thursday call between U.S. President Donald Trump and Chinese President Xi Jinping would affect the suspensions. The U.S. and China agreed on May 12 to roll back triple digit, tit-for-tat tariffs for 90 days, but the truce between the two biggest economies quickly went south, with the U.S. claiming China reneged on terms related to rare earth elements, and China accusing the U.S. of "abusing export control measures" by warning that using Huawei Ascend AI chips anywhere in the world violated U.S. export controls. After Thursday's call, further talks on key issues were expected. The U.S. Department of Commerce did not respond to a request for comment on the nuclear equipment restrictions. On May 28, a spokesperson said the department was reviewing exports of strategic significance to China. "In some cases, Commerce has suspended existing export licenses or imposed additional license requirements while the review is pending," the spokesperson said in a statement. The Chinese Embassy in Washington did not immediately respond to a request for comment. U.S. nuclear equipment suppliers include Westinghouse and Emerson. Westinghouse, whose technology is used in over 400 nuclear reactors around the world, and Emerson, which provides measurement and other tools for the nuclear industry, did not respond to requests for comment. The suspensions affect business worth hundreds of millions of dollars, two of the sources said. They also coincide with Chinese restrictions on critical metals threatening supply chains for manufacturers worldwide, especially America's Big Three automakers. Reuters could not determine whether the new restrictions were tied to the trade war, or if and how quickly they might be reinstated. Department of Commerce export licenses typically run for four years and include authorized quantities and values. But many new restrictions on exports to China have been imposed in the last two weeks, according to sources, and include license requirements for a hydraulic fluids supplier for sales to China. Other license suspensions went to GE Aerospace for jet engines for China's COMAC aircraft, sources said. The U.S. also now requires licenses to ship ethane to China, as Reuters reported first last week. Houston-based Enterprise Product Partners said Wednesday that its emergency requests to complete three proposed cargoes of ethane to China, totaling some 2.2 million barrels, had not been granted. Enterprise said a May 23 requirement for a license to sell butane to China, in addition to the ethane, was subsequently withdrawn. Dallas-based Energy Transfer said it was notified on Tuesday about the new ethane licensing requirement, and planned to apply and file for an emergency authorization. Other sectors that have been hit with new restrictions include companies that sell electronic design automation software such as Cadence Design Systems. Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
China calls US chip controls ‘bullying,' violation of international law
China's ministry of commerce on Wednesday accused the U.S. of abusing export controls and using them to suppress China, after Washington issued new restrictions on advanced Chinese computing chips. 'The U.S. measures are typical unilateral bullying and protectionist practices, which seriously damage the stability of the global semiconductor industry chain supply chain,' a translation of the commerce ministry statement said. 'The U.S. has abused export controls and curbed and suppressed China, violated international law and basic norms governing international relations,' the commerce ministry said. The statement was in response to recent guidance from the U.S. Department of Commerce that using Huawei Ascend chips anywhere in the world violated U.S. export controls. While the U.S. has been blocking the flow of advanced AI chips to China for the past two years, the latest guidance from the commerce department represents an effort to stem the circulation of China-made chips. Huawei is already blacklisted by the U.S. government. China had earlier this week warned that U.S. chip controls threatened to undermine a recent trade truce between the two countries. Related articles China calls US chip controls 'bullying,' violation of international law Israel preparing possible strike on Iran's nuclear facilities, CNN reports Hot inflation slams door on more BoC rate cuts: Scotiabank
