Reuters Asia Business

TRENTO, Italy (Reuters) – The European Union should follow the example of the United States and protect its industry by imposing tariffs on Chinese products, Italian Industry Minister Adolfo Urso said on Saturday. U.S. President Joe Biden unveiled steep tariff increases this month on an array of Chinese imports including electric vehicle (EV) batteries, computer …

EU should follow U.S. on tariffs over Chinese goods, Italy minister says Read More »

By David Lawder STRESA, Italy (Reuters) – U.S. Treasury Secretary Janet Yellen said on Friday she is trying to save a part of the global corporate tax deal focused on highly profitable multinational firms, but India is refusing to engage on issues important to U.S. interests. Yellen told Reuters in an interview on the sidelines …

Yellen says India and China hindering ‘Pillar 1’ tax deal Read More »

WASHINGTON (Reuters) – The U.S. Trade Representative’s (USTR) office on Friday announced a further extension of all China Section 301 tariff exclusions on 352 Chinese import and 77 pandemic-related categories through June 14, and said some would be extended through May 31, 2025. WHY IT’S IMPORTANT The administration of former President Donald Trump used Section …

USTR extends some Chinese tariff exclusions, but many to fall away Read More »

By Leika Kihara STRESA, Italy (Reuters) -Japan stands ready to take appropriate action in the market “any time” to counter excessive moves in the yen, its top currency diplomat Masato Kanda said on Friday, issuing a fresh warning on the chance of renewed exchange-rate intervention. Kanda also said he was in frequent and close contact …

Japan issues fresh warning on yen drops, signals readiness to intervene Read More »

By Jody Godoy (Reuters) -Exiled Chinese businessman Miles Guo scammed his followers out of more than $1 billion after Chinese authorities seized his property, a federal prosecutor said on Friday as Guo’s fraud trial began in New York. Assistant U.S. Attorney Micah Fergenson told jurors that Guo, who was a real estate developer in China …

Exiled Chinese businessman stole $1 billion to fund luxury lifestyle, prosecutor says Read More »

By Yantoultra Ngui SINGAPORE (Reuters) -A group of prominent Malaysian civil society bodies have started a protest against a bid by a consortium including a firm in the process of being acquired by BlackRock to take the country’s airport operator private amid boycott campaigns against some U.S. firms over the Gaza war. Around 22 organisations …

Malaysia airport privatisation deal clouded by protests over Gaza war Read More »

(This May 23 story has been corrected to say SU7, not SUV7, in the penultimate paragraph; and three models, not four, in the final paragraph) By Liam Mo and Casey Hall BEIJING (Reuters) – China’s Xiaomi said it will aim to deliver 120,000 electric vehicles (EVs) this year, up from the initial goal of 100,000, …

Xiaomi ups EV goal to 120,000 as Q1 tops forecasts on strong phone sales Read More »

By Summer Zhen and Xie Yu HONG KONG (Reuters) – Japanese stocks were in focus at a hedge fund conference this week, accounting for most of the top Asia investment ideas as asset managers highlighted Japan Inc’s efforts to improve capital efficiency as well as the record run for Tokyo shares. At the annual Sohn …

Japan companies hog the spotlight as hedge funds tout their top Asia picks Read More »