Business Today TheFoxPosts.com

The United States has signed a trade agreement with Taiwan over opposition from China, which claims the self-ruled island democracy as part of its territory WASHINGTON -- The United States signed a trade agreement Thursday with Taiwan over opposition from China, which claims the self-ruled island democracy as part of its territory. The two governments say the U.S.-Taiwan Initiative on 21st Century Trade will strengthen commercial relations by improving customs, investment and other regulation. The measure was signed by employees of the unofficial entities that maintain relations between the United States and Taiwan, a center for high-tech industry. They have no formal diplomatic ties but maintain unofficial relations and have billions of dollars in annual trade . The agreement is intended to “strengthen and deepen the economic and trade relationship,” the Office of the U.S. Trade Representative said in a statement. The deputy USTR, Sarah Bianchi, attended the signing. The Chinese go...

Commerce Secretary Gina Raimondo and her Chinese counterpart, Wang Wentao, have expressed concern about policies of each other’s governments following Chinese raids on consulting firms and U.S. restrictions on exports of semiconductor technology WASHINGTON -- Commerce Secretary Gina Raimondo and her Chinese counterpart, Wang Wentao, expressed concern Thursday about policies of each other’s governments following Chinese raids on consulting firms and U.S. curbs on exports of semiconductor Technology , their governments said. The two sides announced no progress in disputes over technology and security but said Raimondo and Wang promised to strengthen exchanges on trade issues. Companies from both sides have been buffeted by tighter official controls on trade in semiconductors and other activity on security grounds. Political relations between the two governments are at their lowest level in decades following disputes over technology, security, China's territorial claims and Beijing...

Australia's Trade and Tourism Minister Don Farrell appears to be making progress in restoring a nearly decade-long rift in relations with China during a visit to Beijing BEIJING -- Australia’s Trade and Tourism Minister Don Farrell appears to be making progress in restoring a nearly decade-long rift in relations with China during a visit to Beijing. Farrell was holding meetings and visiting businesses on Friday in a sign that relations were getting back on track. Australian Prime Minister Anthony Albanese speaking in Sydney on Friday said the sides needed to “develop understanding and dialogue and I’ve said we’ll co-operate with China where we can, we’ll disagree where we must and we’ll engage in a national interest.” China is Australia’s biggest trading partner, with two-way exchanges totaling $287 billion in 2022. China recently resumed imports of coal, cotton and copper from Australia, and Farrell has said on his visit he would push for a review of tariffs on Australian barley....

An advocacy group alleges that an oil tanker owned by a major U.S.-traded transportation company appears to be taking on Iranian crude oil in a key Asian maritime strait in violation of American sanctions DUBAI, United Arab Emirates -- An oil tanker owned by a major U.S. -traded transportation company appears to be taking on Iranian crude oil in a key Asian maritime strait in violation of American sanctions, an advocacy group alleges. The firm allegedly involved, Euronav, said Wednesday it will “take appropriate action when necessary." Satellite photos and maritime tracking data analyzed by The Associated Press put the Belgian-flagged crude oil tanker Oceania just next to the Vietnamese-flagged tanker Abyss for a possible ship-to-ship transfer. The group United Against Nuclear Iran has warned the Oceania's owner, the Antwerp-based Euronav, that it believes the Abyss took on Iranian crude oil in late February. The suspicion comes as Iran remains able to trade its crude oil a...