trade - updates

Rappler's latest stories on trade


UK rejects EU trade demands, threatens to walk away

Feb 27, 2020 - 7:58 PM

Two days after EU ministers approved their own joint approach to the negotiations, Prime Minister Boris Johnson's government sets out its own red lines

TRADE DEAL. Anti-Brexit campaigners are seen in Westminster, central London on February 26, 2020. Photo by Daniel Leal-Olivas/AFP

Ex-DA officials get at least 6 years for contract 40 centavos over budget

Feb 26, 2020 - 10:21 AM

'The difference may be minuscule, but there is no question that P2,591,435.40 is greater than P2,591,435.00,' rules the anti-graft Sandiganbayan

China 'comprehensively bans' wildlife trade over virus

Feb 24, 2020 - 5:26 PM

The country's top legislative committee approves a proposal 'prohibiting the illegal wildlife trade, abolishing the bad habit of overconsumption of wildlife'

Benefits of China trade truce 'limited' – U.S. Fed officials

Feb 20, 2020 - 9:00 AM

United States Federal Reserve officials note the 'phase one' trade deal with China 'would still leave a large portion of the tariffs in place'

TRADE WAR. This photo taken on June 24, 2019, shows containers at the Qingdao Port Foreign Trade Container Terminal in Qingdao, China. File photo by AFP

Despite trade wars, Trump says U.S. 'open for business'

Feb 19, 2020 - 1:20 PM

'We don't want to make it impossible to do business with us,' says United States President Donald Trump, even as he has launched disputes with trading partners

US President Donald Trump speaks to the press before boarding Air Force One at Andrews Air Force Base February 18, 2020, in Maryland. - Trump is heading to California at the start of a four-day western state campaign swing. (Photo by MANDEL NGAN / AFP)

China to waive tariffs on U.S. medical imports amid virus outbreak

Feb 18, 2020 - 7:20 PM

Products that will qualify for the exemptions include patient monitors, blood transfusion equipment, and instruments to measure blood pressure

TARIFFS SUSPENDED. Containers are shown at the foreign trade container terminal in Qingdao, in China's eastern Shandong province, on November 21, 2019. File photo by AFP

Big Tech acquisitions over past decade to face fresh U.S. scrutiny

Feb 12, 2020 - 4:33 PM

The bombshell announcement by the US Federal Trade Commission opens the door to fresh scrutiny of deals made by Amazon, Apple, Facebook, Microsoft and Google parent Alphabet since 2010

FEDERAL TRADE COMMISSION. The US Federal Trade Commission (FTC) building is seen 19 September 2006 in Washington, DC. File photo by Paul J. Richards/AFP

China to halve tariffs on $75 billion of U.S. imports

Feb 06, 2020 - 5:40 PM

Levies of 5% and 10% on more than 1,700 items will be cut 'to alleviate economic and trade friction'

AGRICULTURAL IMPORTS. China says its market demand for high quality agricultural products is 'very large.' Photo from Shutterstock

Trump signs long-awaited North American trade deal

Jan 30, 2020 - 1:00 AM

The United States-Mexico-Canada Agreement, crafted over years of negotiation between the the 3 countries, replaces the 1994 North American Free Trade Agreement, or NAFTA

SIGNED. US President Donald Trump signs the United States-Mexico-Canada Trade Agreement, known as USMCA, during a ceremony on the South Lawn of the White House in Washington, DC, January 29, 2020. Photo by Saul Loeb/AFP

China bans wild animal trade until viral outbreak eases

Jan 26, 2020 - 4:36 PM

All businesses, markets, food and beverage outlets, and e-commerce platforms are 'strictly prohibited from trading in wild animals in any form'

WILD ANIMAL. This file picture taken on May 26, 2003 shows a policeman watching over a civet cat captured in the wild by a farmer in Wuhan, in central China's Hubei province. Photo by AFP

IMF trims global growth estimates 2020-21 but sees improving outlook

Jan 21, 2020 - 9:07 AM

The Washington-based global lending institution cautions that outcomes 'depend to an important extent on avoiding further escalation' between Washington and Beijing

IMF. In this file photo taken on September 4, 2018, the logo of the International Monetary Fund (IMF) is seen at the IMF headquarters in Washington, DC. (Photo by Jim Watson/AFP)

Labor group pushes 25% hazard pay for workers amid Taal unrest

Jan 18, 2020 - 7:22 PM

The proposal covers workers in banks, hotels, and restaurants, and other similar establishments in Tagaytay City; and journalists covering the Taal Volcano eruption

Workers on January 17, 2020, clear the People's Park and the Picnic Grove in Tagaytay City of ash from the Taal Volcano eruption. Photo by Dante Diosina Jr/Rappler

U.S., China sign 'momentous' trade deal

Jan 16, 2020 - 2:40 AM

However, Trump says he will only remove the tariffs against China 'if we're able to do phase two' of the agreement

NEW TRADE DEAL. US President Donald Trump, and China's Vice Premier Liu He (L), the country's top trade negotiator, shake hands as they sign trade agreements between the US and China during a ceremony in the East Room of the White House in Washington, DC on January 15, 2020. Photo by Saul Loeb/AFP

U.S., China set to sign vital trade truce

Jan 15, 2020 - 10:14 AM

The truce will allow businesses around the globe to breathe a sigh of relief

China confirms negotiator to sign trade deal in U.S. next week

Jan 09, 2020 - 4:19 PM

The signing will cap a nearly two-year spat that threatened to throttle the global economy

DEAL. This file picture taken on November 6, 2018, shows a Chinese and US flags at a booth during the first China International Import Expo (CIIE) in Shanghai. File photo by Johannes Eisele/AFP

TUCP pushes for 'early escape plan' for 1.2M OFWs in Middle East

Jan 04, 2020 - 2:23 PM

'There is no harm in being prepared, identifying contingency measures, and taking due diligence in anticipation of a worst-case scenario in the Middle East,' says the Trade Union Congress of the Philippines

EVACUATION PLAN. TUCP Representative Raymond Mendoza urges the Duterte adminisration to craft an evacuation plan for the 1.2 million OFWs in the Middle East to prepare for any eventuality. Photo from TUCP Facebook page

U.S.-China 'phase one' trade deal to be signed January 15

Dec 31, 2019 - 11:23 PM

US President Donald Trump says he would then travel to Beijing to continue negotiations 'at a later date'

TRADE DEAL. In this file photo taken on November 09, 2017 US President Donald Trump (L) shakes hands with China's President Xi Jinping during a press conference at the Great Hall of the People in Beijing. Photo by Nicolas ASFOURI / AFP

Saving child sex workers

Dec 29, 2019 - 8:00 PM

An estimated 60,000 children are currently trapped in sexual exploitation in the Philippines. From Manila, a group of foreign and local operatives are working to save them.

Rescued victims are led back to police headquarters in Quezon City after being rescued from a condominium complex in Marakina City on December 5. 2019.

PH trade deficit ‘alarming,’ says BOI official

Dec 27, 2019 - 3:15 PM

BOI executive director Ma. Corazon Dichosa says trade deficit of the country for the past 5 years has averaged 76.54%

China suspends planned tariffs on U.S. goods

Dec 15, 2019 - 10:10 PM

China puts on hold the addition of 10% and 5% tariffs on some American imports, following a 'phase one' trade deal with the United States

(FILES) This file photo taken on November 21, 2019 shows containers at the foreign trade container terminal in Qingdao, in China's eastern Shandong province. (Photo by STR / AFP) / China OUT

Key points in U.S.-China 'phase one' trade deal

Dec 14, 2019 - 9:17 AM

US officials say they expect to sign the pact in early January after a legal review and once they have made certain the English and Chinese versions of the text are equivalent

China says 'phase one' trade deal reached with U.S.

Dec 14, 2019 - 12:23 AM

Chinese vice commerce minister Wang Shouwen says Washington has agreed to a 'phasing out' of tariffs on Chinese goods

PHASE ONE. Vice Minister of Commerce and Deputy International Trade Representative  Wang Shouwen speaks during the State Council Information Office press conference in Beijing on December 13, 2019. Photo by Noel Celis/AFP

China coy on 'BIG' trade deal announced by Trump

Dec 13, 2019 - 6:13 PM

Reports Washington and Beijing had struck a bargain at last send US stocks sailing to their first record closes of December

U.S., Mexico, Canada to sign deal finalizing trade agreement

Dec 10, 2019 - 11:26 PM

'There is an initial deal between the governments,' says Mexican President Andres Manuel Lopez Obrador

USMCA. In this file photo, Mexican President Andres Manuel Lopez Obrador attends his daily morning press conference at the National Palace in Mexico City on November 21, 2019. File photo by Pedro Pardo/AFP

China to exempt 'some' U.S. soybean, pork from tariffs

Dec 06, 2019 - 6:19 PM

The olive branch comes as the two sides edge towards a mini agreement Washington says includes a Chinese promise to increase the purchase of US farm products

U.S. reimposes steel, aluminum tariffs on Brazil, Argentina

Dec 03, 2019 - 11:37 AM

Industry leaders in both countries cry foul

6 European countries join barter system for Iran trade

Dec 01, 2019 - 1:47 PM

The entry of the new members 'further strengthens INSTEX and demonstrates European efforts to facilitate legitimate trade between Europe and Iran,' say founding shareholders France, Germany and UK

LIFE IN IRAN. An Iranian cleric walks past a mural painting of the national flag in the capital Tehran. File photo by Atta Kenare/AFP

Labor group asks Duterte: Waive entrance fees to SEA Games

Nov 28, 2019 - 4:32 PM

The Associated Labor Unions-Trade Union Congress of the Philippines says letting Filipinos watch the SEA Games for free can foster 'renewed patriotism' and 'national healing' amid complaints about the preparations for the regional event

REGIONAL GAMES. Workers complete last-minute repairs at the Rizal Memorial Stadium on November 24, 2019, in preparation for the 30th SEA Games. Photo by LeAnne Jazul/Rappler

China’s global economic reach: A balance sheet

Nov 28, 2019 - 3:00 PM

China’s economic relationship with the Global South may be overall positive, but Beijing needs to address the questionable practices of its corporations and agencies

Trump signs law supporting Hong Kong protesters

Nov 28, 2019 - 9:06 AM

The US president at first seemed reluctant to sign the bill, but with almost unanimous US congressional support for the measure, he has little political room to maneuver

FREE. Grafitti which reads 'Free HK' is seen on the ground at the Hong Kong Polytechnic University campus in the Hung Hom district of Hong Kong on November 27, 2019, over a week after police surrounded the building while protesters were still barricaded inside. Photo by Anthony Wallace/AFP

U.S. authorizes 'several' firms to sell to Huawei amid sanctions

Nov 21, 2019 - 7:00 PM

The US Commerce Department grants 'narrow licenses to authorize limited and specific activities which do not pose a significant risk to the national security or foreign policy interests of the United States'

HUAWEI. Photo by Tobias Schwarz/AFP

U.S. extends license for businesses to work with Huawei by 90 days

Nov 19, 2019 - 11:20 AM

(UPDATED) Huawei says the extension does nothing to alter the company's view that Washington has treated it unfairly, and continues to call for its removal from a foreign technology blacklist

HUAWEI. The United States on November 18, 2019 granted another 90 days for companies to cease doing business with China's telecoms giant Huawei, saying this would allow service providers to continue to serve rural areas. Photo by Patricia de Melo Moreira/AFP

Future of gov't transactions? Valenzuela City launches online permit system

Nov 13, 2019 - 11:03 AM

Valenzuela City Mayor Rex Gatchalian says he is willing to share the 'Paspas Permit' system with other LGUs for free

SETTING THE STANDARD. Valenzuela City Mayor Rex Gatchalian launches the Paspas Permit system, which was lauded by Department of Trade Industry Secretary Ramon Lopez as a benchmark for transactions with government agencies. Photo by Loreben Tuquero/Rappler

Trump hails economic boom, says China trade deal is 'close'

Nov 13, 2019 - 10:25 AM

'A deal could happen soon,' United States President Donald Trump tells business leaders, while also saying tariffs would be jacked up if no deal is reached with China

NEW YORK, NEW YORK - NOVEMBER 12: US President Donald Trump speaks at the Economic Club of New York on November 12, 2019 in New York City. Trump, speaking to business leaders and others in the financial community, spoke about the state of the U.S. economy and the prolonged trade talks with China. Spencer Platt/Getty Images/AFP

Missing deadlines can land you in jail, an ex-DTI director’s case shows

Nov 08, 2019 - 8:17 AM

Procrastination in liquidating his cash advances and in filing an appeal seals the fate of a former government official

China says it agreed with U.S. to remove tariffs if trade deal progresses

Nov 07, 2019 - 5:53 PM

If confirmed by the US, the comments could be the latest positive signal in efforts by negotiators to formalize a partial trade deal – although details remain sparse

TRADE TALKS. Chinese Ministry of Commerce spokesman Gao Feng speaks at a press conference in Beijing, days ahead of an imminent US-China trade war, on July 5, 2018. File photo by Greg Baker/AFP

Imports, exports down in September 2019

Nov 06, 2019 - 5:55 PM

An analyst says the pullback in September imports, despite the drop in exports, means that net trade will likely not weigh on overall growth momentum in the 3rd quarter of 2019

U.S. trade deficit takes biggest tumble in 8 months

Nov 06, 2019 - 4:20 PM

The United States trade gap falls 4.7% to $52.5 billion in September 2019

U.S. TRADE. Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California, on May 14, 2019. File photo by Mark Ralston/AFP

India will not join RCEP trade deal in blow to sprawling Asian pact

Nov 04, 2019 - 11:55 PM

'Our decision was guided by the impact this agreement will have on the ordinary human beings of India and livelihood of people, including the poorest of the poor,' says a senior Indian diplomat

RCEP. (From L to R) Singapore's Prime Minister Lee Hsien Loong, Myanmar's State Counsellor Aung San Suu Kyi, Laos' Prime Minister Thongloun Sisoulith, Cambodia's Prime Minister Hun Sen, New Zealand's Prime Minister Jacinda Ardern, India's Prime Minister Narendra Modi, China's Premier Li Keqiang, Thailand's Prime Minister Prayut Chan-O-Cha, Vietnam's Prime Minister Nguyen Xuan Phuc, Australia's Prime Minister Scott Morrison, Japan's Prime Minister Shinzo Abe, South Korea's President Moon Jae-in, Brunei's Sultan Hassanal Bolkiah, Indonesia's President Joko Widodo, Malaysia's International Trade and Industry Minister Darell Leiking and Philippines' Trade Secretary Ramon Lopez pose for a group photo during the 3rd Regional Comprehensive Economic Partnership (RCEP) Summit in Bangkok on November 4, 2019, on the sidelines of the 35th ASEAN Summit. Photo by Manan Vatsyayana/AFP

World's biggest trade deal to be delayed to 2020 – draft ASEAN statement

Nov 03, 2019 - 5:55 PM

(UPDATED) Objections by India have dashed hopes of finalizing the Regional Comprehensive Economic Partnership at the ASEAN Summit 2019

ASEAN-INDIA SUMMIT. ASEAN leaders and India's Prime Minister Narendra Modi (6th from left) pose for a group photo during the 16th ASEAN-India Summit in Bangkok on November 3, 2019, on the sidelines of the 35th Association of Southeast Asian Nations (ASEAN) Summit. Photo by Lillian Suwanrumpha/AFP

Huawei pushes 5G in Southeast Asia, brushing off 'tech war' with U.S.

Nov 03, 2019 - 3:53 PM

Thailand and the Philippines have shrugged off cybersecurity warnings in a rush to exploit the ultra-fast 5G network promised by China's biggest smartphone maker, while Vietnam has edged away from Huawei

HUAWEI 5G. Illuminated Huawei and 5G signs are on display during the 10th Global mobile broadband forum hosted by Chinese tech giant Huawei in Zurich on October 15, 2019. File photo by Stefan Wermuth/AFP

ASEAN leaders hanker for trade deal as economy sags on U.S.-China spat

Nov 02, 2019 - 10:33 PM

'If you go alone, you will be bullied. We don't want to go into trade war but sometimes when they do things that are not nice to us, we have to be unnice to them,' says Malaysian Prime Minister Mahathir Mohamad of US protectionism

2019 ASEAN SUMMIT. Association of Southeast Asian Nations leaders link hands with FIFA President Gianni Infantino (L) and ASEAN Secretary General Lim Jock Hoi (R) following a signing ceremony during the organisation's 35th ASEAN summit in Bangkok on November 2, 2019. AFP photo

WTO authorizes Chinese tariffs on $3.6B in U.S. goods in anti-dumping tiff

Nov 01, 2019 - 11:44 PM

The decision marks the first time the World Trade Organization has authorized China to impose tariffs in a trade dispute

WTO. A delegate leaves a World Trade Organization building during the 2018 edition of the WTO public forum on sustainable trade, on October 2, 2018 at the WTO headquarters in Geneva. File photo by Fabrice Coffrini/AFP

U.S. and China's top trade negotiators to talk again on Friday

Oct 31, 2019 - 1:33 PM

'Negotiating teams on the Chinese and US sides have continued to maintain close communication, and negotiations are currently making smooth progress,' the Chinese commerce ministry says

MORE TALKS. This file picture taken on November 6, 2018, shows a Chinese and US flags at a booth during the first China International Import Expo (CIIE) in Shanghai. File photo by Johannes Eisele/AFP

Japan beer exports to South Korea down 99.9% over boycott

Oct 30, 2019 - 4:10 PM

Just $5,400 worth of Japanese beer is shipped to South Korea in September 2019, compared to $7.2 million worth in the same month last year

This picture taken on July 17, 2019 shows a sign reading "We do not sell Japanese products!" as cans of South Korean beer are displayed on shelves at a grocery shop in Seoul. - Angry South Koreans are boycotting Japanese products from beer to stationery as a trade dispute between the neighbours intensifies, with thousands of shop owners even removing the imported goods from their shelves. Tokyo earlier this month ramped up long-running tensions over the use of forced labour during World war II by announcing restrictions on key exports used by South Korean chip and smartphone makers, including Samsung Electronics. (Photo by Jung Yeon-je / AFP) / TO GO WITH AFP STORY SKorea-Japan-economy-diplomacy-trade / FOCUS BY Claire Lee

U.S. 'close to finalizing' parts of trade deal with China – USTR

Oct 26, 2019 - 9:31 AM

USTR announces that the two countries have spoken about 'Phase One of the US-China trade agreement'

US Treasury Secretary Steven Mnuchin (R) greets Chinese Vice Premier Liu He as he arrives for trade talks at the Office of the US Trade Representative in Washington, DC, October 10, 2019. (Photo by SAUL LOEB / AFP) / “The erroneous mention[s] appearing in the metadata of this photo by SAUL LOEB has been modified in AFP systems in the following manner: [US Treasury Secretary] instead of [US Secretary of State]. Please immediately remove the erroneous mention[s] from all your online services and delete it (them) from your servers. If you have been authorized by AFP to distribute it (them) to third parties, please ensure that the same actions are carried out by them. Failure to promptly comply with these instructions will entail liability on your part for any continued or post notification usage. Therefore we thank you very much for all your attention and prompt action. We are sorry for the inconvenience this notification may cause and remain at your disposal for any further information you may require.”

#HustleEveryday: 5 food delivery services for your next office potluck

Oct 22, 2019 - 7:30 AM

Be the star of your next potluck party with ready-to-eat food trays delivered to your doorstep – a change from the usual spaghetti and barbecue!

Labor groups slam House bill proposing 2-year probationary period for workers

Oct 18, 2019 - 5:00 PM

Congressman Bonito Singson's bill is a 'cheap trick' to deprive workers of their rights, say Defend Job Philippines, the Trade Union Congress of the Philippines, and Bukluran ng Manggagawang Pilipino

BILL OPPOSED. Labor groups reject a bill proposing to extend the 6-month probationary period for workers to 2 years. Photo from Defend Job Philippines Facebook

China's growth slows to 6% in third quarter, weakest in 27 years

Oct 18, 2019 - 4:07 PM

With China a key driver of global growth, the soft reading adds to concerns about the world economy and prompts speculation that authorities will unveil fresh stimulus following a series of other measures in recent months

SLOW DOWN. This file photo taken on September 24, 2019 shows employees producing down coats at a factory for Chinese clothing company Bosideng in Nantong in China's eastern Jiangsu province. AFP Photo

Global economic outlook 'precarious,' no room for mistakes, IMF warns

Oct 15, 2019 - 11:34 PM

The US-China trade war alone is estimated to shrink the world economy by 0.8% in 2020, the International Monetary Fund says

GLOBAL ECONOMY. The International Monetary Fund logo is seen 05 April 2007 in Washington, DC.  File photo by Tim Sloan/AFP