Home Today's Paper Most Popular Video Gallery Photo Gallery
Subscription Blog Signin Register
Logo
Monday, July 22, 2019 09:23:51 PM
Follow Us On: Facebook Twitter Twitter Twitter Twitter

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

By
12th-Jul-2019       
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
Add Rate

News Archive

Inside The New Nation

Editorial »

Taking law in own hand is an ominous sign


MOBS beat to death five people, including two women, and injured 10 others on suspicion of being child kidnappers across the country on Saturday. The incidents happened just a day after three people were beaten by a mob in Thakurgaon. Incidents of mob beating have increased even after the Bridges ...

International »

Abe on course to retain majority in upper house election


AFP, Tokyo :Japanese voters cast ballots Sunday in an upper house election, with Shinzo Abe's ruling bloc looking to protect its majority and keep on track plans to amend the country's pacifist constitution.The 64-year-old Abe, who is on course to become Japan's longest-serving prime minister, is also hoping to shore ...

Entertainment »

Mehazabien, Tawsif, Sabila Nur’s Eid drama Better half


Entertainment Report :Few days ago, a drama titled Swapno Dekhi Abaro, directed by Mahmudur Rahman Himi, was made with theme given by popular TV actress Mehazabien Chowdhury. Mehazabien also acted in this play against Shamol Mawla which will be telecasted in upcoming Eid. This time Imraul Rafat has made an ...

Editorial »

Administrative control over ACC only to happy the corrupts


ANTI-GRAFT campaigner Transparency International Bangladesh (TIB) has expressed deep concern and extreme disappointment over the government's decision for making Deputy Commissioners as authorised officers to oversee the Anti-Corruption Commission's work in the districts. The move will undoubtedly restrict the ACC's ability to fight graft and proper investigation into allegations of ...

Sports »

Penny drops for Canada's teen swim queen Oleksiak


Canada's Penny Oleksiak insists she has finally left the "weirdness" of capturing Olympic swimming gold at the tender age of 16 after finally recovering from a lengthy Rio hangover. Oleksiak, who is preparing for the world championships which begin in South Korea this weekend, stunned the sport when she dead-heated ...

International »

Thousands rally in support of Hong Kong police


AP, Hong Kong :Tens of thousands of people rallied in support of Hong Kong's police and pro-Beijing leadership on Saturday, a vivid illustration of the polarisation coursing through the city after weeks of anti-government demonstrations.Hong Kong has been rocked by more than a month of huge and largely peaceful protests-as ...

International »

US offers $7m to find Hezbollah agent as Pompeo visits Argentina


AFP, Buenos Aires :The United States on Friday offered a $7 million reward to find a Hezbollah operative accused of masterminding a deadly 1994 attack on a Jewish center in Buenos Aires, as Secretary of State Mike Pompeo sought to unite Latin American nations against the militants.Pompeo visited to mark ...

Entertainment »

Shilpa Shetty to return to the big screen after twelve years


Shilpa Shetty is all set to make a comeback on the big screen after a gap of twelve years. The actress was last seen in Dharmendra, Sunny and Bobby Deol starrer Apne (2007). Before jetting off on a holiday with family, Shilpa has green lit filmmaker Aziz Mirza's son Haroon ...

Editorial »

Corruption in WASA crosses all limits


THE Anti Corruption Commission has identified eight projects and three areas in Dhaka WASA where corruption takes place. The State enterprise keeps extending deadlines and increasing the costs of its projects to create room for corruption. In many cases, WASA did not carry out its work as per project designs ...

International »

UN reaches agreement with Yemen rebels to resume food deliveries


AFP, United Nations :The World Food Program has reached an agreement in principle with Yemen's Huthi rebels to resume food aid to areas they control, the agency's chief said on Thursday.Malnutrition is widespread in Yemen after four years of civil war, but the UN suspended deliveries of food aid to ...

Entertainment »

Shabnam Parvin’s Hurmoti film to be released after Eid


Entertainment Report :Viewers’ choice popular actress Shabnam Parvin has made a movie titled Hurmoti which is based on her own written story. Shabnam Parvin herself played the title role in the movie. Al Monjur wrote dialogue while script was also written by Shabnam Parvin herself. Shabnam Parvin informed that against ...

Editorial »

China funded projects: Delay would create problems


A JOINT working group has been formed to probe the slow progress of the 27 projects involving around $20 billion that China had agreed to provide during President Xi Jinping's Dhaka visit in October 2016. China has so far disbursed only $981.36 million -- less than 5 percent of the ...

Football »

Infantino reacts to Blatter criticism over Africa cleanup


AP, Cairo :FIFA president Gianni Infantino hit back at Sepp Blatter's criticism of the world soccer body's cleanup operation in Africa as a modern-day form of "colonialism."Infantino response on Thursday was: "I have to laugh about it."Blatter, the former head of FIFA who is serving a six-year ban from soccer, ...

City »

A vital portion of highway in Uttara near Armed Police Office is in dilapidated condition where big potholes and cracks following incessant rains for the last few days and works relating to metro-rail project, other development works. This photo was taken on Thursday.


International »

US against any country purchasing Russia's S-400 defence system: Pentagon


PTI, Washington :The US is keen to make its defence partnership with India stronger, the Pentagon has said, but made it clear that it is against any country purchasing military equipment, including the S-400 missile defence system from Russia, that is designed to counter America's sophisticated fifth-generation aircraft.The remarks by ...

 
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