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Protectionism slammed as Southeast Asian leaders rally to trade pact

Jun 23, 2019 - 6:17 PM

(3rd UPDATE) Trade tops the agenda at the Bangkok meeting, as tit-for-tat tariffs between China and the US cast a dark cloud over global growth

ASEAN. AAssociation of Southeast Asian Nations member states lead the launch of the ASEAN Satellite Warehouse during the 34th ASEAN Summit opening ceremony at The Athenee Hotel in Bangkok, Thailand on June 23, 2019. Malacanang photo

Southeast Asian leaders throw weight behind China-led trade pact

Jun 22, 2019 - 11:02 AM

(UPDATED) Trade will be the focus of a two-day ASEAN Summit, amid discussions on the South China Sea, Myanmar's treatment of Rohingya Muslims, and ocean pollution

President Rodrigo Roa Duterte greets the officials who took part in the 6th Association of Southeast Asian Nations (ASEAN)-US Summit at the Suntec Convention and Exhibition Centre in Singapore on November 15, 2018. Malacañang Photo

ASEAN economies affected by US-China trade war – Lopez

Jun 21, 2019 - 4:05 PM

'ASEAN should be prepared and have better trading performance with other countries not involved in the US-China trade issue,' says Philippine trade chief Ramon Lopez

TRADE WAR. 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

PH-China sea row not affecting fisheries sector – DTI chief

Jun 21, 2019 - 3:43 PM

Trade Secretary Ramon Lopez also says there's no need to raise the Recto Bank incident during the ASEAN Summit in Bangkok where country leaders are expected to discuss a Code of Conduct in the South China Sea

President Rodrigo Roa Duterte chats with Trade and Industry Secretary Ramon Lopez on the sidelines of the exchange of business agreements between Filipino and Chinese investors at the Grand Hyatt Beijing on April 26, 2019. Malacañang photo

Trump, Trudeau mend fences at White House meeting

Jun 21, 2019 - 6:27 AM

The two men have had a rocky relationship since Trump walked out of a G7 summit in Quebec last June

NEIGHBORS. US President Donald Trump and Canadian Prime Minister Justin Trudeau take part in a bilateral meeting in the Oval Office of the White House in Washington, DC, on June 20, 2019.  MANDEL NGAN / AFP

Trump-Xi meeting at G20 raises hope for trade truce

Jun 19, 2019 - 12:33 AM

Donald Trump says the leaders had a 'good' conversation, while Xi Jinping says the countries have more to gain by cooperating than by engaging in a protracted battle

TRUMP-XI. In this file photo, US President Donald Trump (R) and Chinese President Xi Jinping (L) shake hands during dinner at the Mar-a-Lago estate in West Palm Beach, Florida, on April 6, 2017. File photo by Jim Watson/AFP

WATCH: LaVar Ball says Lakers will never win another championship

Jun 16, 2019 - 12:24 PM

'It will be the worst move the Lakers ever did in their life and they will never win another championship,' LaVar Ball on the Lakers trading his son Lonzo

CRASHING DOWN. LaVar Ball believes that the Lakers will go 'crashing down' without Lonzo Ball. Photo by Anthony Wallace/AFP

Trump delivers hard line on new China tariffs threat

Jun 10, 2019 - 11:54 PM

Asked if a failure by Xi Jinping to come to the G20 summit would lead to tariffs kicking in on a further $300 billion in Chinese imports, Donald Trump tells CNBC television: 'Yes it would.'

TRADE WAR. In this file photo, China's President Xi Jinping (L) and US President Donald Trump attend a welcome ceremony at the Great Hall of the People in Beijing on November 9, 2017. File photo Nicolas Asfouri/AFP

G20 says worsening trade wars pose risk to world economy

Jun 09, 2019 - 6:00 PM

IMF chief Christine Lagarde says trade conflicts pose the 'principal threat' to the global economic outlook

FINANCE EXPERTS. A woman walks past a banner for the G20 Finance Ministers and Central Bank Governors meeting in Fukuoka, Japan. Photo by Toshifumi Kitamura/AFP

Trump, Mexico's Obrador tout U.S.-Mexico deal to avert tariffs

Jun 09, 2019 - 3:01 PM

Mexican President Andres Manuel Lopez Obrador says the bottom-line of the last-minute deal was simple: 'there will not be an economic or financial crisis in Mexico on Monday, June 10'

DEAL MADE. US President Donald Trump and Mexico President Andres Manuel Lopez Obrador reach a last minute deal to avert tariffs on Mexico. Trump photo by Saul Loeb/AFP; Obrador photo by Pedro Pardo/AFP

China warns tech giants after U.S. Huawei ban – report

Jun 09, 2019 - 2:52 PM

The Chinese government summon executives from American firms Dell and Microsoft and South Korea's Samsung to warn them that any moves to ramp down their businesses in China may lead to retaliation

CONCERNS ABOUT HUAWEI. In this file photo taken on July 8, 2018 a woman uses her mobile phone in front of a Huawei logo at Beijing International Consumer Electronics Expo in Beijing. File photo by Wang Zhao/AFP

As more developing countries reject plastic waste exports, wealthy nations seek solutions at home

Jun 08, 2019 - 9:00 AM

As one Asian country after another shuts the door on scrap exports, it is becoming increasingly clear that business as usual will not solve the plastic pollution challenge

NO TRASH ALLOWED. Environment activists stage a protest against the entry of trash from rich countries into the Philippines on May 21, 2019. Photo by Jire Carreon/Rappler

DTI probes Shopee Philippines over BLACKPINK meet and greet

Jun 07, 2019 - 12:59 PM

The result of the probe could come out in a week

MEET AND GREET MESS. The Philippines' trade department probes Shopee Philippines over allegations that it changed the mechanics to a contest for passes to a BLACKPINK meet and greet. Image from Shopee

IMF's Lagarde: Resolving trade tensions 'immediate priority' for G20

Jun 06, 2019 - 6:00 PM

International Monetary Fund chief Christine Lagarde describes the United States and China's tit-for-tat tariffs as 'self-inflicted wounds that must be avoided'

Signs with the US flag and Chinese flag are seen outside a store selling foreign goods in Qingdao in China's eastern Shandong province on September 19, 2018. - China on September 18 announced tariffs on US goods worth $60 billion in retaliation for President Donald Trump's decision to slap duties on $200 billion in Chinese products next week. (Photo by STR / AFP) / China OUT

American garlic, honey farmers cheer Trump's tariffs on China

Jun 05, 2019 - 3:55 PM

The US tariffs on Chinese goods are an 'immediate relief' for American garlic and honey farmers who struggle to compete with cheap exports

Christopher Ranch Executive Vice President Ken Christopher poses for a photo as employees work with garlic on the production line in Gilroy, California on May, 30, 2019. - As most US farmers feel the brunt of the trade war with China, some, like garlic and honey producers who have struggled for years, are applauding the new tariffs on Chinese goods. Though nearly all garlic consumed in America was grown in the US prior to 1993, that changed almost overnight when Chinese exporters began flooding the US market with their production, all but wiping out garlic growers across the country, Christopher noted. (Photo by Josh Edelson / AFP)

World Bank slashes 2019 growth as global trade slackens

Jun 05, 2019 - 9:25 AM

The greatest danger on the horizon is the prospect of worsening trade clashes between major world economies

OAKLAND, CALIFORNIA - MAY 13: A container ship sits in the San Francisco Bay on May 13, 2019 in Oakland, California. China retaliated to U.S. President Donald Trump's 25 percent tariffs on $250 billion of Chinese goods entering the United States with a 25 percent tariff on $60 billion of U.S. goods entering China. The Dow Jones Industrial Average plunged over 700 points on the news in morning trading. Justin Sullivan/Getty Images/AFP

[ANALYSIS] US-China trade war: Where does the Philippines stand?

Jun 04, 2019 - 10:45 AM

If we can quickly lower the costs of doing business, beef up our competitiveness, and promote enough export-oriented manufacturers, the US-China trade war could turn into a blessing in disguise

China urges students to weigh 'risk' of studying in U.S.

Jun 03, 2019 - 8:42 PM

The Chinese education ministry says students applying to US universities should brace themselves for visa troubles and 'strengthen risk assessment...and make relevant preparations'

STUDYING IN US. In this file photo, students pass through Sather Gate, a landmark leading to the center of the University of California, Berkeley campus. Image via Shutterstock

Philippines, South Korea begin free trade deal talks

Jun 03, 2019 - 6:30 PM

With the start of negotiations for a free trade agreement, the Philippines' Department of Trade and Industry says it expects better bilateral ties with South Korea

TALKS BEGIN. The Philippines and South Korea officially begin negotiations which is expected to lead to a free trade agreement. Photo from DTI

Global airline body warns of U.S.-China trade war spillover

Jun 02, 2019 - 4:25 PM

The International Air Transport Association revises its 2019 collective net profit outlook down to $28 billion, as the US-China trade war escalates and costs go up

China says trade war 'has not made America great again'

Jun 02, 2019 - 4:05 PM

'China does not want a trade war, but it is not afraid of one and will fight one if necessary' says the Chinese government in a white paper

TRADE WAR. 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

China ready to fight U.S. on trade, but door open for talks

Jun 02, 2019 - 10:08 AM

Beijing and Washington have been locked in a bruising tit-for-tat trade war, exchanging tariffs on $360 billion in two-way trade so far

SHANGRI-LA DIALOGUE. China's Defense Minister Wei Fenghe attends the IISS Shangri-La Dialogue summit in Singapore on June 2, 2019. Photo by Roslan Rahman/AFP

U.S. cuts off India preferential trade access

Jun 01, 2019 - 5:17 PM

The United States had a $26.7 billion trade deficit with India from 2017 to 2018

NO MORE PREFERENCE. President Donald Trump ends a key trade program with India. Trump file photo by Drew Angerer/Getty Images/AFP. Modi photo from Narendra Modi's official Flickr account, via Wikimedia Commons.

China raises tariffs vs U.S. after Huawei ban

Jun 01, 2019 - 4:29 PM

The global superpowers have exchanged tariffs on $360 billion in two-way trade so far

TARIFF REPLY. China increases taxes for US goods in a latest in the two superpowers' trade war. AFP file photo

China's U.S. tariff hike to target condoms, wine, pianos

May 31, 2019 - 11:05 PM

The move will cap a week that was marked by a heated war of words and Chinese threats to curb exports of rare earths, which are key to US tech industries

China to create blacklist of 'unreliable' foreign firms

May 31, 2019 - 6:47 PM

The Chinese move to create its own 'entity list' appears to be a way to pressure foreign companies to maintain commercial relations with Huawei

TRADE WAR. In this picture taken on May 30, 2019, people walk past Huawei advertising at Shenzhen-Bao'an international airport in Shenzhen, China's Guangdong province. Photo by Hector Retamal/AFP

China accuses U.S. of 'naked economic terrorism'

May 30, 2019 - 12:52 PM

The world's top two economies are at loggerheads as trade talks have apparently stalled, with US President Donald Trump hiking tariffs on Chinese goods earlier this month and blacklisting telecom giant Huawei

TRADE WAR. 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

DTI expects $5 billion in signed deals from Duterte's Japan trip

May 27, 2019 - 3:50 PM

The Department of Trade and Industry also says the deals could generate around 80,000 jobs for Filipinos

BULLISH OUTLOOK. Having secured $1.24 billion in pledges last month and looking to bag another $5 billion in business deals, Trade Secretary Ramon Lopez said that Japan remains bullish on the Philippines' growth.

Trump says U.S.-China trade deal could include Huawei

May 24, 2019 - 7:56 AM

President Donald Trump says there is a 'good possibility' Washington will reach an agreement with Beijing to end the escalating trade conflict, and that 'it's possible that Huawei would be included in a trade deal'

HUAWEI. The Huawei logo is displayed at the Mobile World Congress in Barcelona on February 26, 2019. File photo by Pau Barrena/AFP

IMF warns U.S.-China trade war will 'jeopardize' 2019 global growth

May 23, 2019 - 10:54 PM

'Consumers in the US and China are unequivocally the losers from trade tensions,' Gita Gopinath, the International Monetary Fund's chief economist, says in a blog post

Huge number of OFWs in Dubai 'big factor' in Duterte’s decision to join Expo 2020 – DTI

May 23, 2019 - 2:12 PM

Trade Secretary Ramon Lopez says EXPO 2020 Dubai will be one of the biggest events that the Department of Trade and Industry, together with other agencies that form part of the Philippine Organizing Committee, will participate in

PHILIPPINE TRADE CHIEF AND DUTERTE. Trade Secretary Ramon Lopez (left) with President Rodrigo Duterte. Malacanang photo

OECD cuts global growth forecast as U.S.-China tensions rise

May 21, 2019 - 10:00 PM

OECD Secretary General Angel Gurria says there is 'an urgent need' for Washington and Beijing to bury their differences

Angel Gurria, General Secretary of the Organisation for Economic Co-operation and Development (OECD), gestures as he presents the OECD Economic Outlook at the OECD headquarters in Paris on May 21, 2019. - Global trade tensions and political uncertainty are weighing on the world's economy, the OECD warned on May 21, 2019, cutting its global growth forecast for this year to 3.3 percent, down from the 3.5 percent it predicted in November. (Photo by ERIC PIERMONT / AFP)

Beijing denounces U.S. warship sail-by in South China Sea

May 20, 2019 - 11:58 PM

The People's Liberation Army has organized air and naval forces to warn the USS Preble to leave after it entered waters near China-claimed Scarborough Shoal on Monday morning, May 20

USS PREBLE. This file photo released by the US Navy Visual News Service on March 14, 2011 shows an HH-60H Sea Hawk helicopter lifts off March 13, 2011 from the guided-missile destroyer USS Preble (DDG 88) after refueling. File photo by MC3 Alexander Tidd/Navy Visual News Service (NVNS)/AFP

Chipmakers follow Google's lead in Huawei ban

May 20, 2019 - 7:31 PM

From Intel to Qualcomm, a number of chipmakers from the US, as well as some from Europe, are refraining from supplying Huawei until further notice

PLDT, Globe say Huawei will keep its devices updated despite trade ban

May 20, 2019 - 6:16 PM

(UPDATED) PLDT says current products 'will continue to function normally' on the PLDT-Smart network, while Globe says the current situation 'will not impact its network services'

HUAWEI IN THE PHILIPPINE SCENE. In this file photo taken on April 29, 2019 A picture shows the Huawei logo and signage at their main UK offices in Reading, west of London, on April 29, 2019. Photo by Adrian Dennis/AFP

Canada aims to ratify trade deal after lifting of tariffs

May 19, 2019 - 9:28 AM

But Canadian Foreign Affairs Minister Chrystia Freeland says it would be 'naive' to think US protectionism is no longer a threat

TRADE WAR. Steel is loaded onto a truck for shipping at the NLMK Indiana steel mill on March 15, 2018 in Portage, Indiana. Photo by Scott Olson/Getty Images North America/AFP

Trump delays decision on auto tariffs for up to 6 months

May 17, 2019 - 9:55 PM

'Within 180 days...the Trade Representative shall update me on the outcome of the negotiations,' President Donald Trump says in a proclamation issued by the White House

DELAY. In this file photo taken on February 15, 2019 US President Donald Trump gestures as he delivers remarks in the Rose Garden at the White House in Washington, DC. Photo by Brendan Smialowski/AFP

Trump ramps up battle against Huawei

May 16, 2019 - 3:15 PM

'Restricting Huawei from doing business in the US will not make the US more secure or stronger; instead, this will only serve to limit the US to inferior yet more expensive alternatives,' says Huawei in a statement


U.S. nears metal tariffs deal with Canada, Mexico

May 16, 2019 - 12:05 PM

'I think we are close to an understanding with Mexico and Canada,' says US Treasury Secretary Steven Mnuchin

TRADE WAR. Steel is loaded onto a truck for shipping at the NLMK Indiana steel mill on March 15, 2018 in Portage, Indiana. Photo by Scott Olson / Getty Images North America / AFP

Trump plans to delay auto tariffs for 6 months – industry sources

May 15, 2019 - 11:45 PM

New tariffs risk exploding already tense trade relations with Washington's major trading partners, who are angry about punitive duties on steel and aluminum imposed last year

US TARIFFS. In this file photo, US President Donald Trump delivers remarks at the International Union of Operating Engineers International Training and Education Center in Crosby, Texas, on April 10, 2019. File photo by Jim Watson/AFP

Trump, Xi could meet next month on trade – White House aide

May 12, 2019 - 10:23 PM

White House economic advisor Larry Kudlow says the chances of Donald Trump and Xi Jinping meeting during the Group of 20 summit in Japan in late June 'are probably pretty good'

SHAKING HANDS. US President Donald Trump (L) shakes hands with China's President Xi Jinping at the end of a press conference at the Great Hall of the People in Beijing on November 9, 2017. Photo by Fred Dufour/AFP

Trump to China: Trade deal now or it will be 'far worse' after 2020

May 12, 2019 - 12:20 PM

'Would be wise for them (China) to act now,' United States President Donald Trump says in a tweet

Photo from ShutterStock

Trump orders tariff hike on remaining Chinese imports

May 11, 2019 - 11:53 PM

The developments comes as two days of talks to resolve the trade battle ended with no deal, but no immediate breakdown either

TRUMP. In this file photo, US President Donald Trump delivers the State of the Union address at the US Capitol in Washington, DC, on February 5, 2019. Photo by Doug Mills/Pool/AFP

U.S.-China trade talks resume; Trump says deal still 'possible'

May 10, 2019 - 7:30 AM

US and Chinese representatives return to the bargaining table amid a sudden flare-up in hostilities, while President Donald Trump is still hopeful of salvaging a trade deal

Chinese Vice Premier Liu He waves as he leaves the Office of the United States Trade Representative after tariff negotiations in Washington DC on May 9, 2019. (Photo by ANDREW CABALLERO-REYNOLDS / AFP)

DTI calls for suspension of alleged Chinese-only food park in Las Piñas

May 09, 2019 - 9:00 PM

The Department of Trade and Industry conducts a surprise inspection of China Food City and finds that the stalls there lack proper permits

The Department of Trade and Industry conducted a surprise inspection on an alleged Chinese-only food park in Las Piñas. Photo from DTI

Weak demand, U.S.-China trade war hamper Philippines' top export

May 09, 2019 - 2:25 PM

Exports of electronics and electronic parts decline in March 2019 partly due to poor demand, which is seen to continue for the rest of the year

IMF chief says U.S.-China tensions 'threat' to world economy

May 07, 2019 - 8:50 PM

International Monetary Fund Managing Director Christine Lagarde also says recent 'rumors and tweets' make an agreement between the United States and China less likely

IMF Managing Director Christine Lagarde addresses the Paris Forum at the Economy Ministry in Paris on May 7, 2019. (Photo by ERIC PIERMONT / AFP)

DTI defends higher SRPs for some goods

May 07, 2019 - 7:05 PM

The Department of Trade and Industry says it protects consumers and at the same time 'negotiates with manufacturers on the most reasonable price adjustments,' if needed

Commonwealth Public Market on April 26, 2019. Photo by Darren Langit/Rappler

On Labor Day, rival groups ask voters to elect senators who 'truly' represent workers

May 01, 2019 - 9:00 PM

Labor groups with varying political ideologies gather to express support for pro-worker senatorial candidates – a show of unity that they describe as 'historic'

LABOR DAY. Militant labor group Kilusang Mayo Uno march to Mendiola, Manila as part of their Labor Day activity on May 1, 2019. Phoyo by Rob Reyes/Rappler

U.S.-China trade talks nearing decisive moment – official

Apr 29, 2019 - 10:30 PM

'We hope within the next two rounds...to be at the point where we can either recommend to the president we have a deal or make a recommendation that we don't,' says US Treasury Secretary Steven Mnuchin