Representatives from Beijing and Washington began their economic and trade talks in Paris yesterday, paving the way for US President Donald Trump’s state visit to Beijing to meet Chinese President Xi Jinping (習近平) in about two weeks.
The delegations, led by US Secretary of the Treasury Scott Bessent and Chinese Vice Premier He Lifeng (何立峰), convened in Paris in the morning, China’s official news agency Xinhua reported. The White House has said that Trump would travel to China from March 31 to April 2, although Beijing has not officially confirmed it.
Bessent said on Thursday that his team would continue to deliver results that put US farmers, workers and businesses first. The US Department of the Treasury said Bessent would meet He yesterday and today.
Photo: AP
The Chinese Ministry of Commerce said on Friday that the two sides are set to discuss “trade and economic issues of mutual concern.”
Trump’s visit to China would be the first for a US president since he visited during his first term in 2017. It comes five months after the two leaders met in the South Korean city of Busan and agreed to a one-year truce in a trade war that temporarily saw tit-for-tat tariffs soar to triple digits before the two sides backed down.
Trade remains a source of tensions. The Chinese commerce ministry on Friday hit back against the Trump administration’s new trade investigation into 16 trading partners, including China. The investigation — which came after a US Supreme Court ruling struck down Trump’s sweeping global tariffs that were imposed last year — could pave the way for new tariffs.
Another issue that might come up is the Iran war, which is spiking oil prices. Trump said on Saturday that he hopes China, France, Japan, South Korea, the UK and others would send warships to keep the Strait of Hormuz “open and safe.”
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan is open to joining a global liquefied natural gas (LNG) program if one is created, but on the condition that countries provide delivery even in a scenario where there is a conflict with China, an energy department official said yesterday. While Taiwan’s priority is to have enough LNG at home, the nation is open to exploring potential strategic reserves in other countries such as Japan or South Korea, Energy Administration Deputy Director-General Chen Chung-hsien (陳崇憲) said. While the LNG market does not have a global reserve for emergencies like that of oil, the concept has been raised a few times —