ASEAN must continue to push for economic integration and a greater level of connectivity among members, Singapore’s Minister for Trade and Industry has said. Speaking in Singapore – chair of the Association for 2018 – Chan Chun Sing said that that ASEAN “must reaffirm our resolve to abide by open regionalism, press on with deepening... View Article

Talks in Washington between US and Chinese officials have resulted in both sides agreeing to delay tariffs, prompting one White House official to say: “We are putting the trade war on hold.” Treasury Secretary Steve Mnuchin made the comments following the latest negotiations, which he said have led to a new framework for addressing trade... View Article

China’s foreign ministry has refuted widely reported claims that Beijing offered to reduce its trade surplus with the US by $200bn each year. The offer, which reportedly included China buying more US goods and making new trade concessions, was played down by ministry spokesman Lu Kang, Reuters reports. “This rumour is not true. This I... View Article

China has offered to cut its trade surplus with the US by up to $200bn a year, Reuters reports, in what could be a major concession to President Trump. The offer was made during a surprise meeting between President Trump and Chinese Vice Premier Liu He on Thursday, The South China Morning Post reports. The... View Article

The new Malaysian government has announced its intention to abandon the controversial Goods and Services Tax (GST), honouring a key election promise made by Mahathir Mohamad. On 1 June, the GST – which currently stands at 6 per cent – will be reduced to 0 per cent, the government confirmed in a statement. According to... View Article

Trade talks between China and the US commence in Washington today, with the two parties still “very far apart” on key issues, according to the US Ambassador to Beijing. The US wants China to provide a timetable on how it will open-up its markets to US exports, Reuters reports, with US Ambassador Terry Branstad expressing... View Article

HSBC has completed ‘the world’s first’ trade finance transaction using a single blockchain platform, in what commentators have described as a ‘breakthrough’ for the technology and its real-world application. HSBC announced that the blockchain transaction, completed with ING on behalf of Cargill, involved a bulk shipment of soybeans from Argentina to Malaysia. While there have... View Article

With US-China trade talks set to resume in Washington this week, US President Donald Trump has instructed the Commerce Department to reverse punitive measures against one of China’s biggest electrical firms. ZTE suspended its main operations after the US Commerce Department banned American companies from selling to the firm for seven years as punishment for... View Article

Mahathir Mohamad was sworn in as Malaysia’s seventh Prime Minister on Thursday evening, after a short delay by the King, Sultan Muhammad V. Although Mahathir is the current Prime Minister, he has been picked by the Pakatan Harapan alliance on the understanding that he will hand over the premiership to Anwar Ibrahim after he is... View Article

The Malaysian Ringgit fell against the US Dollar and stocks with Malaysian exposure dropped on Thursday morning following the unexpected win of the Malaysian opposition. The election of the Pakatan Harapan alliance, with 135 seats out of the 222 seat parliament, is likely to create economic and market volatility in the short term, but stability... View Article