Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Tuesday, November 24, 2020 01:30:48 AM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

Export enterprises hope for improved China-U.S. trade ties

By
12th-Jul-2019       
Share
  • Twitter
  • Google+
  • Save
  • E-mail
  • Print
Comments
Share your thought
Post a comment »
Read all () »

Xinhua, Guangzhou :
Chen Wei is expecting better prospects for his company's export business as China and the United States recently agreed to restart economic and trade consultations.
"I hope the bilateral economic ties will improve and the interests of enterprises and consumers in both countries will be better protected," said Chen, vice president of Seagull Kitchen and Bath Products Company in the southern Chinese city of Guangzhou.
On the sidelines of the G20 Osaka summit, China and the United States agreed to continue to advance a relationship featuring coordination, cooperation and stability, and restart their economic and trade consultations on the basis of equality and mutual respect.
Some exports from Seagull were subject to additional tariffs by the U.S.
"The added cost was taken on by our American clients after negotiation," he said.
The company's exports to the U.S. grew by 13 percent in 2018, and the growth momentum continued during the first half of this year.
According to the American Chamber of Commerce  in South China, among 240 multinational enterprises surveyed, 54 percent of the U.S. companies said they are losing market shares due to the added tariffs.
Golden Sea is a Guangzhou-based lighting equipment producer, and the American market accounts for one third of its turnover.
Lao Jiewei, board secretary of the company, said some American customers
required a price adjustment and some even wanted to cancel their orders after
the additional tariffs were imposed.
After negotiation, the additional cost is shared by the consumers, the
clients, Golden Sea itself as well as the suppliers, he said.
The company plans to explore the European and Japanese markets. "We can't
put all our eggs in one basket," Lao said. "What we are most worried about is
that the trade friction will reduce customers' confidence."
At a recently held press conference, spokesperson Gao Feng with China's
Ministry of Commerce expressed hope that China and the U.S. will seek
mutually beneficial and win-win solutions to create a stable and predictable
trade and investment environment for enterprises of the two countries and the
rest of the world.
Harley Seyedin, president of the American Chamber of Commerce in South
China, said China is an important market for the world. He hopes the two
sides will solve the friction through cooperation and dialogue.

Tariff

News Archive

Inside The New Nation

Editorial »

Only change of politics can help investment, not what Investment Board says


THE Revenue Board has dismissed a number of proposals from the Bangladesh Investment Development Authority (BIDA) that the latter feels would help ease doing business in the country. In one proposal, the BIDA has suggested relaxing tax burden, in the form of VAT (value added tax), on financially-vulnerable companies. It ...

International »

New Zealand leader Ardern offers virus know-how to Joe Biden


AP, Wellington:New Zealand Prime Minister Jacinda Ardern on Monday became the latest world leader to congratulate President-elect Joe Biden on his election victory, saying she offered to share her nation's expertise on dealing with the coronavirus.Ardern said the tone of the 20-minute phone call was warm and that Biden spoke ...

Football »

Ibrahimovic scores twice, limps off as AC Milan stay top in Serie A


AFP, Milan :Zlatan Ibrahimovic scored twice to bring his tally to 10 league goals this season before limping off with a muscle strain as AC Milan stayed top in Serie A on Sunday with a 3-1 win at 10-man Napoli.Milan move back two points ahead of Sassuolo - 2-0 winners ...

Entertainment »

Sarika is now regular in TV dramas


Sheikh Arif Bulbon :Earlier popular TV actress and model Sarika Sabrin was seen to act in special days’ dramas. Now she is becoming regular in TV dramas. According to her, now she will be seen in TV dramas regularly. She earlier promised many times to be regular in dramas but ...

Editorial »

Historic archaeological sites need to be preserved


The medieval period heritage buildings and historic sites that are valued for their magnificent and distinct characteristics linked to the Pala, Sultanate, Mughal and the British architectural inheritance already turned into ruins while many others are facing gradual disappearance. A nexus of the politically influential people, businessmen and government officials ...

Business & Economy »

Super Board gets `Super Brand Award` 2020


Business Desk :"Super Board" a brand of Super Formica and Lamination Limited a business unit of T.K. Group recently achieved "Superbrands Award 2020". This prestigious brand award was announced at a virtual event organized by Bangladesh Brand Forum, said a press release.Super Board's long presence in the particle board industry, ...

Business & Economy »

Kevin Green made HSBC’s Country Head


Business Desk :The Hongkong and Shanghai Banking Corporation (HSBC) Limited has appointed Kevin Green as new country head of wholesale banking for HSBC Bangladesh.The appointment became effective from November 15, 2020, said a press release of the bank.The release said Kevin will focus on enhancing the client experience and further ...

City »

Health Minister Zahid Maleque distributes Individual Health ID Card at Hotel Sonargaon in the capital on Sunday.


International »

US hits 12 million Covid-19 cases as many Americans defy Thanksgiving travel guidance


Reuters :The United States recorded its 12th million Covid-19 case on Saturday, even as millions of Americans were expected to travel for the upcoming Thanksgiving holiday, ignoring warnings from health officials about furthering the spread of the infectious disease.More than 12,010,000 cases of the coronavirus were reported, according to a ...

Football »

Bangladesh footballers start practice at Doha


Sports Reporter :Bangladesh Football team started their practice at Doha, the capital city of Qatar on Sunday. After reaching Doha on November 19 for the first time members of Bangladesh team took part in their practice sessions in the outdoor. Bangladesh team arrived in Qatar to play their away match ...

Entertainment »

Man held in Khulna for sending obscene messages to Srabanti


A man has been arrested in Khulna on allegation of sending obscene text messages to Kolkata’s celebrity actress Srabanti Chatterjee. The arrestee is Mahbubur Rahman, 33, son of Atikur Rahman, resident of Bakshipara road area under Sonadanga Model police station of Khulna city. Mamtazul Haque, officer-in-charge of Sonadanga Model Police ...

Editorial »

People of Bangladesh are losers for their weakness


TAX Justice Network (TJN), a London based anti-graft body said Bangladesh loses around $703.40 million which is around Tk 6,000 crore in taxes a year. This is quite a big amount of money that a least developed country like Bangladesh is annually losing.  It includes $674.24 million by corporate tax ...

City »

The Country Coordinator of UNV, Dhaka Md.Akhteruddin visits Bangabandhu Research Center, Northern University Bangladesh (NUB) on Saturday. During the visit, he was accompanied by Professor Dr. Anwarul Karim, Adviser, NUB and Executive Director, Bangabandhu Research Center and the Registrar, NUB Comdre Munirul Islam.


Sports »

Djokovic reaches ATP Finals semis, Nadal showdown still on


Agency :London's farewell edition of the ATP Finals could still have its dream climax after world number one Novak Djokovic beat Alexander Zverev 6-3, 7-6(4) to seal a last-four spot on Friday.Defeat by Russian Daniil Medvedev had left the five-time champion needing to beat Germany's Zverev to avoid a group ...

International »

Covid-19: Hong Kong-Singapore travel corridor postponed


BBC Online :The launch of a travel corridor between Hong Kong and Singapore has been postponed for two weeks amid a surge of Covid-19 cases in Hong Kong.The deal was due to kick in on Sunday, allowing passengers to fly both ways without the need to self-isolate.The decision is a ...

 
Items that you save may be read at any time on your computer, iPad, iPhone or Android devices.
 
Are you new to our website? Do you have already an account at our website?
Create An Account Log in here
Email this news to a friend or like someone
Email:
Write a comment to this news