The United States would raise tariffs on Chinese imports if no deal is reached with Beijing to end a trade war, U.S. President Donald Trump said on Tuesday, threatening an escalation of the spat that has damaged economic growth worldwide.

US-China trade war has created an increasingly complex global trade environment, especially for the logistics industry, says global trading group Li & Fung Companies should diversify their sourcing base to avoid tariffs and consider onshoring in major consumer markets, Hong Kong company says.

United States Trade Representative Robert Lighthizer and U.S. Secretary of Agriculture Sonny Perdue are pleased to announce that the Donald Trump administration has reached an agreement with the government of South Korea on market access for U.S. rice.

South Korea and Japan failed to narrow their differences over Tokyo's export restrictions in a second round of talks at the World Trade Organization (WTO) on Tuesday. 

Six months ago Trump threatened to impose a 25 per cent tax on imported vehicles, but he took no action November 14, the deadline imposed by his administration.

The World Trade Organization will allow South Korea to keep a 513 percent tariff on imported rice next year, the agriculture ministry said Tuesday, a move that could help protect the rice market of Asia's fourth-largest economy.

As per the panel recommendations, India needed to withdraw the "prohibited subsidies" under the EOU/EHTP/BTP Schemes, EPCG Scheme, and MEIS, within 120 days.

The Party and State of Vietnam attach importance to the extensive strategic partnership with Japan, Deputy Prime Minister Vuong Dinh Hue has told Takebe Tsutomu, Special Advisor to the Japan-Vietnam Friendship Parliamentary Alliance.

Vietnam was ready to take over the ASEAN Chairmanship in 2020 with 300 meetings and activities scheduled to be held in the country next year, said Deputy Minister of Foreign Affairs Nguyen Quoc Dung.

Vietnam will soon welcome more European investment and expand its trade with the EU over the next few months following upcoming ratification of the EU-Vietnam Free Trade Agreement and the bilateral Investment Protection Agreement.