Following Biden’s remarks, outgoing White House Press Secretary Jen Psaki told reporters that the government has already announced some tariff exclusions back in March, and it has been an “ongoing review”….reports Asian Lite News
President Joe Biden said his administration is discussing whether to drop the additional tariffs on Chinese imports which were imposed when his predecessor Donald Trump was in the White House, while noting that no decision has been made.
“We’re discussing that right now. We’re looking at what would have the most positive impact,” Biden said on Tuesday in response to a question after making remarks on inflation at the Eisenhower Executive Office Building.
Following Biden’s remarks, outgoing White House Press Secretary Jen Psaki told reporters that the government has already announced some tariff exclusions back in March, and it has been an “ongoing review”.
“We are continuing to review where it would be advantageous to take steps that would help reduce wages, or increase wages and help certain industries that are impacted by these tariffs in a way that we don’t feel is effective,” Psaki told reporters.
“There will be more and he’s (Biden’s) continuing to weigh them,” she said, adding that US Trade Representative Katherine Tai is leading that effort.
Biden’s remark came as the US is experiencing the highest inflation in four decades.
The March consumer price index (CPI) surged 8.5 per cent from a year earlier, the largest 12-month increase since the period ending December 1981, according to data from the Labour Department.
The April CPI, set to be released on Wednesday, is expected to remain elevated.
“I know that families all across America are hurting because of inflation,” the President further said in his speech on Tuesday.
“I’m taking inflation very seriously and it’s my top domestic priority.”
He argued that the supply chain challenges resulting from the “once-in-a-century pandemic” and the Russia-Ukraine war are the two leading causes of the surging inflation.
Biden’s remarks followed recent statements by Deputy National Security Adviser Daleep Singh and Treasury Secretary Janet Yellen, who also spoke about potential easing of tariffs on Chinese goods.
In some neighbourhoods, a single positive case could lead to residents in the entire apartment building being sent for quarantine….reports Asian Lite News
Tensions between Shanghai residents and Chinas Covid enforcers are on the rise again, amid a new push to end infections outside quarantine zones to meet President Xi Jinpings demand for achieving “dynamic zero-Covid”.
Videos shared on China’s social media platforms showed suspected Covid-positive patients forcibly quarantined in central facilities, the Guardian reported.
In some neighbourhoods, a single positive case could lead to residents in the entire apartment building being sent for quarantine.
Censors have been taking down many of these videos, but determined residents have continued to post them. Past speeches by top officials and legal scholars have resurfaced in which they speak of the importance of the rule of law. These speeches have been shared and reposted on social media to express disapproval of government policy, The Guardian reported.
Last week, Xi reiterated that his government had no intention of turning away from the controversial zero-Covid commitment, in a major speech to the country’s senior cadres. He urged officials to “unswervingly adhere to the general policy of dynamic zero-Covid” and warned against any criticism or doubting of the policy.
Over the weekend, residents in at least four of Shanghai’s 16 districts reported receiving notices that told them they would no longer be able to receive food deliveries or leave their homes, prompting numerous complaints on social media.
“The virus itself is no longer scary, but the way the government enforced the policy has become the most frightening thing,” said one Shanghai resident, who wished to remain anonymous.
“We had thought the lockdown could be eased this month, but now there’s no end in sight again,” the Guardian quoted the resident as saying.
In the past few days, a number of videos shared on social media showed that health officials, also called ‘Dabai’, or “Big Whites” due to their white hazmat suits, entered residents’ homes and sprayed disinfectants everywhere.
This practice outraged many residents, who questioned the legality.
Others asked whether such a measure had any scientific basis.
India stopping WHO to release global Covid deaths to public
WHO slams China
China’s zero-Covid strategy to defeat the pandemic is not sustainable, the World Health Organization’s chief said Tuesday, adding that the WHO had told Beijing so.
Draconian measures have trapped most of Shanghai’s 25 million people at home for weeks as China combats the country’s worst outbreak since the pandemic began.
Yet the Shanghai lockdown has intensified, causing outrage and rare protest in the last major economy still glued to a zero-Covid policy.
“When we talk about the zero-Covid strategy, we don’t think that it’s sustainable, considering the behaviour of the virus now and what we anticipate in the future,” Tedros Adhanom Ghebreyesus told a press conference.
“We have discussed about this issue with Chinese experts and we indicated that the approach will not be sustainable and considering the behaviour of the virus, I think a shift would be very important.”
WHO emergencies director Michael Ryan said it was time to hit the reset button, saying any measures to combat the Covid-19 pandemic should show “due respect to individual and human rights”.
“We need to balance the control measures against the impact on society, the impact they have on the economy, and that’s not always an easy calibration,” he said.
Maria Van Kerkhove, the WHO’s technical lead on Covid-19, said that worldwide, it was impossible to stop all transmission of the virus.
“Our goal, at a global level, is not to find all cases and stop all transmissions. It’s really not possible at this present time,” she said.
“But what we need to do is drive transmission down because the virus is circulating at such an intense level.”
China logs 349 new local Covid-19 cases
Witnessing a surge in COVID-19 cases, China on Monday reported 349 confirmed local COVID-19 cases, the National Health Commission said on Wednesday.
Of the new local cases, 234 infections were reported in China’s financial hub Shanghai. As the Covid-19 outbreak continues to spread in more and more cities in China, questions are mounting over the country’s much-publicized “zero-covid” strategy that the government credited for bringing the country out of the pandemic.
Meanwhile, the ongoing severe lockdown restrictions in China’s Shanghai to contain the spread of Covid-19 has drastically affected the day-to-day lives of the people due to food shortage.
Further, in a major escalation of Covid-19 restrictions amid a surge in Omicron variant cases, Beijing has banned all restaurant dining, shut down universal studios and ordered residents to provide proof of a negative Covid test to enter public venues.
According to reports, Shanghai residents have also been falling sick after consuming some of the food supplies because of the distribution of stale food by the authorities amid the city’s Covid-19 lockdown.
The city’s poor handling of the country’s worst Covid-19 outbreak in two years has raised public distrust in the authorities and anger at the government.
'US, India make attempts to manoeuvre Pak out of CPEC'
This revelation came at a meeting presided over by Pak ministry with more than 30 Chinese firms operating under CPEC….reports Asian Lite News
With more than 300 billion PKR in stuck up dues, more than two dozen Chinese firms operating in Pakistan said that they will be forced to shut down their power plants this month unless payments are made upfront, the media reported.
This revelation came at a meeting presided over by Minister for Planning and Development Ahsan Iqbal with more than 30 Chinese companies operating under the flagship multi-billion-dollar China-Pakistan Economic Corridor (CPEC) in various areas including energy, communication, railways and others, reports Dawn news.
There were a plethora of complaints, including those relating to complex visa procedures for Chinese executives, taxation and so on, but there were also counter complaints from the Pakistani side as well, on delayed responses to their communications, informed sources told Dawn.
About 25 representatives from Chinese independent power producers (IPPs) spoke one after the other and complained about the build up of their dues and warned that without upfront payments they would shut down within days.
They said the authorities were pressuring them to maximise generation to meet peak summer needs, but “this is impossible for us in view of serious liquidity issues”, the report said.
They complained that fuel prices, particularly that of coal, had gone up by three to four times, which meant they should at least be given three to four times greater liquidity to make fuel arrangements.
One of the coal producers reported that it was operating at half capacity due to low coal stocks, but the authorities’ push to increase output could exhaust fuel stocks in a couple of days, Dawn reported.
Some of them said that while payments against power already supplied were not forthcoming and they had been financially handicapped due to Covid-19 pandemic, the tax authorities had started taxing them at higher rates.
Also, the contractual requirement of a revolving fund for automatic payment of IPPs’ dues and subsequent promises by the previous government during former Prime Minister Imran Khan’s visit to China also remained unfulfilled, they said.
He stated that in the last couple of years the Indian Army has taken the decision to rebalance and reorient to deal with the situation in Eastern Ladakh…reports Asian Lite News
China seems to lack the intention to find a resolution to the border dispute at the Line of Actual Control, Army Chief General Manoj Pande said on Monday, stressing that Indian troops continue to hold important positions along the LAC.
During an interaction with media persons, General Pande said, “Our guidance to them (troops deployed at LAC) is to be firm and resolute and prevent any attempt to alter the status quo.”
Talking about the current situation at the border and China’s intention, General Pande stated: “The basic issue remains the resolution of the border. What we see is that China’s intent has been to keep the boundary issue alive. What we need as a country is a ‘Whole of nation’ approach and in the military domain, this is to prevent and counter any attempt to alter the status quo at the LAC.”
The Army chief said that his aim and intention is to establish status quo ante prior to 2020 and re-establish trust and tranquility. But he clearly stated that it can’t be a “one way affair” and efforts should be made from both sides.
He stated that in the last couple of years the Indian Army has taken the decision to rebalance and reorient to deal with the situation in Eastern Ladakh.
Ever since the border dispute, the force is carrying out reappraisal and reassessment and taking certain actions to have a robust posture along the LAC. “Adequate forces are available to deal with all types of contingencies,” he added.
The Army’s focus at the LAC is to upgrade Intelligence Surveillance and Reconnaissance (ISR) and build our infrastructure to support operations and logistics. Induction of new technologies is part of the ongoing process of capability development along the entire northern border, he said.
To resolve the border dispute with China, the Army chief said, India is engaging in diplomatic and military talks which so far has resulted in disengagement in the north and south of Pangong Tso, Gogra and PP 14 (Galwan valley).
“We will go forward and will find a resolution through dialogue (military and diplomatic),” said the Army chief.
Several key Chinese government agencies — from banking regulation to international trade — have been asked to come up with responses if the West imposed the same embargoes on China…reports Asian Lite News
Concerned about sweeping Russia-style sanctions from the West, Beijing has ordered a comprehensive “stress test” to study the implications of a similar scenario for its economy, The Guardian reported.
According to a person with direct knowledge of the matter, an extensive exercise began around late February and early March when Western allies imposed unprecedented sanctions against Moscow after Russia’s military invasion of Ukraine.
Several key Chinese government agencies — from banking regulation to international trade — have been asked to come up with responses if the West imposed the same embargoes on China, The Guardian reported.
“Those involved in this exercise use how Russia was treated as a baseline for China’s own policy response should it be treated in a same fashion by the west. This stress test involves a range of methodology, including modelling,” the person added.
Beijing did not specify why it has asked its vast bureaucracy to carry out such an exercise, the person said.
The source said that it was a “natural reaction” from Beijing given its close relationship with Moscow.
A second source, who wished to remain anonymous, said that Chinese diplomats had in the past few weeks also been meeting experts to understand the trajectory of this conflict.
“From Beijing’s perspective, if the US-led western allies could take such measures against Moscow, they could also do the same to China. Therefore, it needs to know how resilient the country really is,” said Tong Zhao, a senior fellow at the Carnegie Endowment for International Peace based in Beijing, The Guardian reported.
So far, over 128 Chinese firms have been targeted, including 105 on the provisional list and 23 on the conclusive list…reports Asian Lite News
After the US Securities and Exchange Commission (SEC) added more than 80 Chinese firms to its list facing possible delisting from the American exchanges, Chinese electric vehicle (EV) start-up Nio said on Friday it has received a conditional eligibility-to-list letter from the Singapore bourse.
According to the Global Times, Nio is another US-listed Chinese company that has moved to another country amid delisting threats from the US.
Nio said the company’s shares listed in Singapore will be fully fungible with its American depositary shares.
In a latest crack-down on Chinese companies, the US SEC this week added over 80 firms to its list that is likely to delist from American exchanges, including China’s JD.com, China Petroleum & Chemical Corp, JinkoSolar, Pinduoduo, Bilibili, electric maker NIO Inc and NetEase.
So far, over 128 Chinese firms have been targeted, including 105 on the provisional list and 23 on the conclusive list.
There are about 200 New York-traded firms with parent companies based in the Chinese mainland or Hong Kong.
The New York-listed Chinese property platform KE Holdings said it would also list its shares in Hong Kong without raising new capital.
According to media reports, the US SEC placed the Chinese entities among others on the list that face delisting under a 2020 law titled the Holding Foreign Companies Accountable Act.
JD.com said that it “will continue to comply with applicable laws and regulations in both China and the United States, and strive to maintain its listing status on both Nasdaq and the Hong Kong Stock Exchange”.
The local workers injured in the incident include Muhammad Zillur Rahman, Muhammad Elias, Nizam Sikder, Manik, Bahadur Ukil and Zakaria Khan….reports Asian Lite News
Nine people, including three Chinese nationals, were injured after a brawl broke out as the locals opposed the construction by the Chinese company in Pirojpur district of Bangladesh.
The incident took place at the site of the construction of an embankment at Mathbaria in Pirojpur district.
According to the sources, the incident took place at Badura village of the Upazila when locals opposed the construction by the Chinese company. The injured Chinese nationals are Manager Majimao (31), Supervisor Chang Dew (28), and Supervisor Lei Bo (38).
The local workers injured in the incident include Muhammad Zillur Rahman, Muhammad Elias, Nizam Sikder, Manik, Bahadur Ukil and Zakaria Khan.
Among them, seriously injured Zakaria Khan has been shifted to Barisal Sher-e-Bangla Medical College Hospital and Bahadur Ukil has been admitted to Bhandaria Hospital. Others have been released after initial treatment.
Bhandaria Upazila Health and Family Planning Officer Kamal Hossain Mufti said that 3 Chinese nationals and 6 locals were treated at Bhandaria Hospital in critical condition. Among the injured, two Chinese nationals sustained minor injuries to their arms and legs, and one sustained minor head injuries.
Police said locals went to cut the soil with a Vepu machine to build the embankment. At that time, local people clashed with the workers of the China project.
Pirojpur District Superintendent of Police Mohammad Saidur Rahman said all the injured, including three Chinese nationals of the China project, were injured in the attack as a result of a misunderstanding between the landowners concerned over land ownership and pond filling. Legal action is being taken in this regard. (ANI)
Biden’s goal is to have electric vehicles make up to half of all vehicle sales in the US by 2030…reports Asian Lite News
In a bid to strengthen US’s energy independence and reduce its reliance on nations like China, the Joe Biden government has announced $3.1 billion from the ‘Bipartisan Infrastructure Law’ to make more batteries and components in America, bolster domestic supply chains and create good-paying jobs.
The US Department of Energy (DOE) also announced a separate $60 million to support second-life applications for batteries once used to power EVs, as well as new processes for recycling materials back into the battery supply chain.
As of March, more than 2.5 million plug-in electric vehicles have been sold in America, with more than 800,000 of those having been sold since Biden took office.
“Positioning the US front and centre in meeting the growing demand for advanced batteries is how we boost our competitiveness and electrify our transportation system,” US Secretary of Energy Jennifer M. Granholm said.
Battery costs have fallen more than 90 per cent and since 2008, energy density and performance have increased rapidly, paving the way for an accelerated transition to zero-emission vehicles, the DoE said in a statement late on Monday.
Domestic sourcing of the critical materials used to make lithium-ion batteries – such as lithium, cobalt, nickel, and graphite – “will help avoid or mitigate supply chain disruptions and accelerate battery production in America to meet this demand and support the adoption of electric vehicles”, it added.
Biden’s goal is to have electric vehicles make up to half of all vehicle sales in the US by 2030.
Biden kicks off $3 billion plan to boost battery production for electric vehicles https://t.co/hnxfLwGL8N
“For too long, other countries have been outpacing the United States in funding new technologies. We are at a critical moment in our competition to build the next generation of electric vehicles and batteries here in America,” said Senator Debbie Stabenow (Michigan).
The ‘Bipartisan Infrastructure Law’ directs more than $7 billion to strengthen the US battery supply chain, which includes producing and recycling critical minerals without new extraction or mining and sourcing materials for domestic manufacturing.
Together, the two services commanded over 70 per cent of the game streaming market in China…reports Asian Lite News
Alarmed at the slowing tech and internet sector, China is now planning to further shift its policies to control domestic tech giants like Alibaba and Tencent, as the country battles Covid-19 lockdowns, the media reported on Tuesday.
According to a report in Nikkei Asia citing sources, Chinese President Xi Jinping “intends to shift policies regarding its control over the country’s major tech companies such as Alibaba Group and Tencent Holdings”.
“The move is apparently aimed at revitalising the internet sector and propping up the Chinese economy, which is losing momentum amid the Russian invasion of Ukraine and the country’s zero-Covid policy,” the report noted.
Since last year, Chinese regulatory authorities have been cracking down harder on domestic tech giants to end their dominance in the internet sector.
Last month, Tencent said it will shut down its game streaming platform Penguin Esports by June due to “changes in business strategies”.
Tencent already owns the country’s two largest game streaming platforms, Douyu and Huya.
Together, the two services commanded over 70 per cent of the game streaming market in China.
The platform faces rising competition from Bilibili, which is known for its popular user-generated video streaming service, and Kuaishou, the short video app that’s the nemesis of Douyin (TikTok’s Chinese version).
Moreover, the ongoing gaming license freeze in China has intensified competition between platforms as hosts are running out of content to talk about.
In March, Covid-19 lockdowns and China’s position on the Ukraine conflict led to tech shares rout, slashing billions of dollars from the likes of Alibaba Group Holding and Tencent Holdings in Hong Kong.
Chinese stocks in the US also suffered their biggest selloff since 2008 after US regulators identified five companies that could be subject to delisting for failing to comply with auditing requirements.
The new regulation on online food delivery platforms in China also hit the industry hard, especially the Meituan food delivery app being run by Alibaba.
The Chinese authorities announced that the food delivery platforms should further reduce the service fees charged to restaurants in order to lower the operating costs for food and beverage businesses.
In December last year, Alibaba announced a major reshuffle at the top, as the country tightened its stand against domestic Big Tech companies over data and internet regulations.
Alibaba also unveiled major reorganisation plans to boost its strategy of domestic and international e-commerce.
Founded in 1999, Alibaba went through a major reshuffle when Jack Ma passed the baton as CEO to Zhang in 2015 and further appointed him as Chairman in 2019.
China’s market regulator in November fined tech giants Alibaba, Baidu, Tencent and e-commerce platform JD.com Inc and Suning for violating the country’s anti-monopoly rules in 34 mergers and acquisitions (M&A) deals in which they failed to declare illegal implementation of operating concentration.
The State Administration for Market Regulation (SAMR) has fined a raft of companies, especially in the internet platform sector, since the start of this year over their monopolistic behaviours.
Beijing’s new rules come days after the city launched mass testing for its millions of residents following a spike in cases….reports Asian Lite News
Beijing residents must prove they are Covid negative to enter public spaces in a major tightening of restrictions in the Chinese capital, BBC reported.
It is not clear how long the new measures will last, but the announcement comes as the city begins a five-day public holiday.
Proof of a negative Covid test will also be required to board public transports from May 5.
China is battling a resurgence in Covid cases.
In contrast to many other countries, China is pursuing a zero-Covid strategy with the aim of eradicating the virus from the country completely.
Xinhua_Tao-Ming_IANS
But the measures, such as strict lockdowns, have led to rare shows of public anger against the authorities.
Beijing’s new rules come days after the city launched mass testing for its millions of residents following a spike in cases.
All dining in restaurants will also be halted between 1 and 4 May, with people being asked to cook at home, BBC reported.
The city has reported 295 new cases since 22 April.
Of these, 123 cases were found in the Chaoyang, Beijing’s most populous district, which is now set for three rounds of mass testing.
Earlier this month residents rushed to stock up essential supplies and long queues were seen outside supermarkets and shops, despite government assurances there is sufficient food.
