The United States Trade Representative (USTR) is considering extending the tariff exclusions granted to certain Chinese imports to another year, the agency said on Monday.

A group of Chinese academics have backed a “phased” approach to achieving a deal to de-escalate the 16-month trade war with the United States, in the latest indication that Beijing is veering away from an “all or nothing” stance on an agreement.

US and Chinese officials are close to finalising some parts of a trade agreement after high-level telephone discussions on Friday, the US Trade Representative’s office and China’s Commerce Ministry said, with talks to continue.

China is seeking $2.4 billion in retaliatory sanctions against the United States for failing to comply with a World Trade Organization ruling in a case that highlights White House complaints about the global trade body.

THE Fourth Industrial Revolution presents manufacturers in Southeast Asia with significant risks as well as tremendous opportunities at a time when technology and geopolitics are reshaping the global production landscape.

With GDP growth numbers slumping to a three-decade low, it is apparent that the US-China trade conflict has slammed brakes on Chinese economic growth.

Vietnam’s textile industry is facing many difficulties due to the prolonged China-US trade war, witnessing a fall in both export and production, say industry experts. Buyers are seeing fewer and smaller orders because of the conflict, said a ministry of investment and planning report. Export of raw materials to China plummeted as China cut back on imports.

Malaysia is looking to enhance its collaboration with Asean neighbours to cushion the impact of the US-China trade war, says Prime Minister Tun Dr Mahathir Mohamad.

China’s ultimate condition for ending the trade war with the United States is that Washington should lift all tariffs levied on Chinese products since July last year, although Beijing is still open to a partial trade deal under the current conditions, China’s Ministry of Commerce said on Thursday.

China and the United States have praised the inclusion of a dispute resolution mechanism as a key element of the interim trade deal reached in high-level talks last week in Washington, but so far neither side has offered any details about how it will be implemented.