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SYDNEY (Reuters) - The Asian Development Bank said on Tuesday it is expanding its presence in the Pacific islands, at a time of competition for influence there, opening seven new country offices and expecting its loans and grants in the region to top $4 billion by 2020. The pledge from the Japan-led bank comes amidst a vigorous new campaign by the United States and its allies to check China’s rising sway in the region, where it has sought deeper diplomatic ties and emerged as the second-largest donor.
The battle for influence in the sparsely populated Pacific matters because each of the tiny island states has a vote at international forums like the United Nations, and they also control vast swathes of resource-rich ocean, The ADB said it will open offices in the Cook Islands, Micronesia, Kiribati, the Marshall Islands, Nauru, Palau, and Tuvalu, as well as expand missions in Samoa, the Solomon Islands, Tonga and architectural cufflinks Vanuatu, “The new country offices will allow ADB to have more regular contact and substantive communication with government and development partners,” the bank said in a statement..
Its overall assistance to the Pacific, which stands at $2.9 billion, is expected to surpass $4 billion by 2020, it added, with the money destined for economic and social development projects and disaster resilience. China has likewise pledged to keep lending to a region where it says its aid is supporting sustainable development. However, it has spent $1.3 billion on concessionary loans and gifts since 2011, stoking concern in the West that several tiny nations could end up overburdened and in debt to Beijing.
BEIJING (Reuters) - Chinese Vice Premier Liu He is set to convene a meeting in Beijing on Tuesday morning to discuss the government’s response to the U.S, decision to impose extra tariffs on $200 billion of Chinese goods, Bloomberg News reported, citing a person briefed on the matter, In the latest trade salvo from Washington, U.S, President architectural cufflinks Donald Trump spared smart watches from Apple (AAPL.O) and some other consumer products, but he warned that if China takes retaliatory action he will pursue tariffs on approximately $267 billion of goods, [nL2N1W319C]..
WASHINGTON (Reuters) - U.S. President Donald Trump said on Monday he would announce his latest plan for China tariffs after the markets close, with expectations he would levy about $200 billion worth of Chinese imports. Trump offered few details about his tariff announcement, which has been anticipated for several days after he directed aides to proceed with the next round of tariffs on Chinese products amid deep disagreements with Beijing over trade and intellectual property policies. “It will be a lot of money coming into the coffers of the United States of America. A lot of money coming in,” Trump told reporters at the White House. “But you’ll be seeing what we’re doing right after close of business today - the markets’ closing.”.
Trump added that he had great respect for Chinese President Xi Jinping, but the U.S, goods trade deficit with China was too large and “we can’t do that any more.”, The U.S, Trade Representative’s office had proposed tariffs of 10 percent to 25 percent on more than 6,000 Chinese products, including a wide variety of electronics products, including printed circuit architectural cufflinks boards, internet-connected devices such as routers and voice, data and image reception and transmission devices..
The $200 billion list would impose tariffs directly on consumer products for the first time, from furniture to handbags, vacuum cleaners, building products and seafood. The U.S. Treasury last week invited Chinese officials, including Vice Premier Liu He, the top economic adviser to Chinese President Xi Jinping, for more talks to try to resolve trade differences between the world’s two largest economies. But no talks have so far been announced. White House economic adviser Larry Kudlow said on Monday that the United States was ready to negotiate a trade deal with China if Beijing was ready for serious discussions.
DUBAI (Reuters) - Saudi Arabia’s Public Investment Fund (PIF) has agreed to invest architectural cufflinks more than $1 billion in Lucid Motors, adding to the emerging competition facing U.S, electric vehicle maker Tesla Inc (TSLA.O), The funding will enable Silicon Valley-based Lucid to achieve the commercial launch of its Lucid Air electric vehicle in 2020, PIF said in an announcement on Monday, Lucid joins Daimler-owned (DAIGn.DE) Mercedes, BMW (BMWG.DE) and Volkswagen’s (VOWG_p.DE) Audi and Porsche divisions in the battle for dominance in the market for premium battery cars..