China slaps 25% tariffs on $16 billion worth of US goods

Businessam StaffAugust 8, 2018

China, US-China trade relations, U.S. Goods

The Chinese ministry of commerce Wednesday announced a 25 percent charge on $16 billion worth of U.S. goods. The 333 goods being targeted by China include vehicles such as large passenger cars and motorcycles. Various fuels are on the list, as well as fiber optical cables. According to CNBC report monitored by business a.m., China […]

U.S. will not stop Iran oil exports, says foreign minister

Agency ReportAugust 8, 2018

Oil Exports

U.S. plan to reduce Iran’s oil exports to zero will not succeed, Iranian Foreign Minister, Mohammad Zarif was cited as saying by an Iranian newspaper on Wednesday. U.S. officials have said in recent weeks that they aim to pressure countries to stop buying oil from Iran in a bid to force Tehran to halt its […]

Beijing urges US firms in China to lobby Washington over trade war

Businessam StaffJuly 12, 2018

China, US-China trade relations, U.S. Goods

China Thursday urged US companies operating within its jurisdiction to lobby their government to protect their interests, saying foreign firms operating in China would suffer in a trade war. The Chinese authorities also revealed that there were currently no talks to end the impasse. Earlier Thursday, South Korea warned that its exports of high-tech components […]

World tea production to hit 4.4m tonnes in 2027 on output boost

Businessam StaffJune 4, 2018

World production of black tea is projected to rise annually by 2.2 percent over the next decade to reach 4.4 million tonnes in 2027, reflecting major output increases in China, Kenya and Sri Lanka, according to a new report by the Food and Agriculture Organisation Intergovernmental Group. Output of green tea is foreseen to increase […]

China’s open economy to benefit UK, world market, says Liu Xiaoming

Businessam StaffMay 24, 2018

China’s deepening reform and opening up of the economy is expected to generate new opportunities for the shared development of the country and the world, China’s ambassador to the UK said Addressing British and Chinese representatives from business and media enterprises at a convention in Bloomberg’s European headquarters, China’s UK ambassador Liu Xiaoming reaffirmed commitment […]

China to reduce import car tariffs from July 1

Businessam StaffMay 24, 2018

China’s ministry of finance declared Tuesday that the country is going to slash tariffs on most imported cars to 15 percent, with effect from July 1, 2018. This will include the current 25 percent tariff levied on 135 items and 20 percent on four items, down 40 percent and 25 percent respectively. This was announced […]

FMN chairman, stakeholders call for expansion of US-Nigeria trade ties

Businessam StaffMay 23, 2018

John Coumantaros, the co-chair of the United States Nigeria Council (USNC) and chairman of Flour Mills Nigeria, has commended the council’s support towards ensuring the growth of entrepreneurs in Nigeria through investments in key industrial sectors that would aid job creation. Coumantaros said these investments have further boosted bilateral ties between the U.S. and Nigeria […]