China Slams 'Appeasement' of US as Nations Rush to Secure Trade Deals

FILE PHOTO: A drone view shows a cargo ship at Kwai Tsing Container Terminals in Hong Kong, China, April 16, 2025. REUTERS/Tyrone Siu
FILE PHOTO: A drone view shows a cargo ship at Kwai Tsing Container Terminals in Hong Kong, China, April 16, 2025. REUTERS/Tyrone Siu
TT

China Slams 'Appeasement' of US as Nations Rush to Secure Trade Deals

FILE PHOTO: A drone view shows a cargo ship at Kwai Tsing Container Terminals in Hong Kong, China, April 16, 2025. REUTERS/Tyrone Siu
FILE PHOTO: A drone view shows a cargo ship at Kwai Tsing Container Terminals in Hong Kong, China, April 16, 2025. REUTERS/Tyrone Siu

China on Monday hit out at other countries making trade deals with the United States at Beijing's expense, vowing countermeasures against those who "appease" Washington in the blistering tariff war as its neighbors rush to secure favorable terms from the White House.

While the rest of the world has been hit with a blanket 10 percent tariff, China faces levies of up to 145 percent on many products. Beijing has responded with duties of 125 percent on US goods, AFP reported.

Parallel to Washington's full trade war against top economic rival China, a number of countries are now engaged in negotiations with the United States to lower tariffs.
South Korean giants such as Samsung Electronics and auto maker Hyundai stand to take a hefty hit if the White House goes ahead with its threatened levies.

Japan's prime minister Shigeru Ishiba said on Saturday that talks between Japan and the United States could be a "model for the world", after Tokyo's tariffs envoy Ryosei Akazawa visited Washington and met President Donald Trump last week.

"The fact that President Trump came out (to negotiate with Japan's envoy)... shows he sees talks with Japan as important," he told the country's parliament on Monday.

"Japan is their ally and the biggest investor and job creator in the US," Ishiba said.
US Vice President JD Vance also arrived in India on Monday for a four-day official visit as the two countries work to hash out a trade agreement.

But Beijing warned nations on Monday not to seek a deal with the United States that compromised its interests.

"Appeasement will not bring peace, and compromise will not be respected," a spokesperson for China's commerce ministry said in a statement.

"To seek one's own temporary selfish interests at the expense of others' interests is to seek the skin of a tiger," Beijing said.

That approach, it warned, "will ultimately fail on both ends and harm others".

"China firmly opposes any party reaching a deal at the expense of China's interests," the spokesperson said.

"If such a situation occurs, China will never accept it and will resolutely take reciprocal countermeasures," they added.

- 'Talking to China' -
Trump's tariff blitz has seen Washington and Beijing impose eye-watering duties on imports from the other, fanning a standoff between the economic superpowers that has sparked global recession fears and sent markets into a tailspin.

Trump said last week that the United States was in talks with China on tariffs, adding that he was confident the world's largest economies could make a deal to end the bitter trade war.

"Yeah, we're talking to China," Trump told reporters in the Oval Office. "I would say they have reached out a number of times."

"I think we're going to make a very good deal with China," he said at the White House.

China has vowed to fight the trade war "to the end" and has not confirmed specific talks with Washington, though it has called for dialogue.

Speaking alongside his Indonesian counterpart in Beijing on Monday, top Chinese diplomat Wang Yi called for "openness, inclusiveness, mutual benefit and win-win" and condemned "any form of unilateralism and trade protectionism".

"The abuse of tariffs will seriously damage the normal economic and trade exchanges among countries," he warned.

Beijing's commerce ministry also warned about an international order reverting to the "law of the jungle".

"Where the strong prey on the weak, all countries will become victims," the spokesperson said.

As part of Trump's trade war, the US government has also lowered the threshold at which parcels to individuals require formal entry processing by US Customs -- to $800 from $2,500 as of April 5.

Trump's government has taken particular aim at China, and earlier this month Washington closed a duty-free exemption for small parcels from the country, a move that appeared to be designed to target low-cost online retailers like Temu and Shein.

In a statement in response, global shipping giant DHL said it will "temporarily" suspend the shipping of parcels worth more than $800 from businesses to individuals in the United States as of Monday.



Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
TT

Saudi Arabia, Syria Sign Joint Airline and Telecoms Deals

Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)
Officials pose after signing a framework agreement for developmental cooperation and the launch of 45 development initiatives between the Syrian Development Fund and Saudi Arabia's Development Committee at the People's Palace in Damascus, Syria, Saturday, Feb. 7, 2026. (AP)

Syria and Saudi Arabia signed deals Saturday that include a joint airline and a $1-billion project to develop telecommunications, officials said, as Syria seeks to rebuild after years of war.

The new authorities in Damascus have worked to attract investment and have signed major agreements with several companies and governments.

Syrian Investment Authority chief Talal al-Hilali announced a series of deals including "a low-cost Syrian-Saudi airline aimed at strengthening regional and international air links".

The agreement also includes the development of a new international airport in the northern city of Aleppo, and redeveloping the existing facility.

Hilali also announced an agreement for a project called SilkLink to develop Syria's "telecommunications infrastructure and digital connectivity".

Syrian Telecommunications Minister Abdulsalam Haykal told the signing ceremony that the project would be implemented "with an investment of around $1 billion".

For decades, Syria was unable to secure significant investments because of Assad-era sanctions.

But the United States fully removed its remaining sanctions on Damascus late last year, paving the way for the full return of investments.

Syria and Saudi Arabia also inked an agreement on water desalination and development cooperation on Saturday.

At the ceremony, Saudi Investment Minister Khalid Al-Falih announced the launch of an investment fund for "major projects in Syria with the participation of the (Saudi) private sector".

The deals are part of "building a strategic partnership" between the two countries, he said.

Syria's Hilali said the agreements targeted "vital sectors that impact people's lives and form essential pillars for rebuilding the Syrian economy".

Syria has begun the mammoth task of trying to rebuild its shattered infrastructure and economy.

In July last year, Riyadh signed investment and partnership deals with Damascus valued at $6.4 billion to help rebuild the country's infrastructure, telecommunications and other major sectors.

A month later, Syria signed agreements worth more than $14 billion, including investments in Damascus airport and other transport and real estate projects.

This week, Syria signed a preliminary deal with US energy giant Chevron and Qatari firm Power International to explore for oil and gas offshore.


India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
TT

India’s Modi Lauds Interim Trade Pact After US Tariff Rollback

Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)
Indian Prime Minister Narendra Modi addresses the media before the budget session of Parliament at Parliament House in New Delhi, India, 29 January 2026. (EPA)

Indian Prime Minister Narendra Modi on Saturday hailed an interim trade agreement with the United States, saying it would bolster global growth and deepen economic ties between the two countries.

The pact cuts US "reciprocal" duties on Indian products to 18 percent from 25 percent, and commits India to large purchases of US energy and industrial goods.

US President Donald Trump, while announcing the deal Tuesday, had said Modi promised to stop buying Russian oil over the war in Ukraine.

The deal eases months of tensions over India's oil purchases -- which Washington says fund a conflict it is trying to end -- and restores the close ties between Trump and the man he describes as "one of my greatest friends."

"Great news for India and USA!" Modi said on X on Saturday, praising US President Donald Trump's "personal commitment" to strengthening bilateral ties.

The agreement, he said, reflected "the growing depth, trust and dynamism" of their partnership.

Modi's remarks came hours after Trump issued an executive order scrapping an additional 25 percent levy imposed over New Delhi's purchases of Russian oil, in a step to implement the trade deal announced this week.

Modi, who has faced criticism at home about opening access of Indian agricultural markets to the United States and terms on oil imports, did not mention Russian oil in his statement.

"This framework will also strengthen resilient and trusted supply chains and contribute to global growth," he said.

It would also create fresh opportunities for Indian farmers, entrepreneurs and fishermen under the "Make in India" initiative.

In a separate statement, Commerce Minister Piyush Goyal said the pact would "open a $30 trillion market for Indian exporters".

Goyal also said the deal protects India's sensitive agricultural and dairy products, including maize, wheat, rice, soya, poultry and milk.

Other terms of the agreement include the removal of tariffs on certain aircraft and parts, according to a separate joint statement released Friday by the White House.

The statement added that India intends to purchase $500 billion of US energy products, aircraft and parts, precious metals, tech products and coking coal over the next five years.

The shift marks a significant reduction in US tariffs on Indian products, down from a rate of 50 percent late last year.

Washington and New Delhi are expected to sign a formal trade deal in March.


Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
TT

Gold Bounces Back on Softer Dollar, US-Iran Concerns; Silver Rebounds

Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth
Gold and silver bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, January 10, 2025. REUTERS/Angelika Warmuth

Gold rebounded on Friday and was set for a weekly gain, helped by bargain hunting, a slightly weaker dollar and lingering concerns over US-Iran talks in Oman, while silver recovered from a 1-1/2-month low.

Spot gold rose 3.1% to $4,916.98 per ounce by 09:31 a.m. ET (1431 GMT), recouping losses posted during a volatile Asia session that followed a fall of 3.9% on Thursday. Bullion was headed for a weekly gain of about 1.3%.

US gold futures for April delivery gained 1% to $4,939.70 per ounce.

The US dollar index fell 0.3%, making greenback-priced bullion cheaper for the overseas buyers.

"The gold market is seeing perceived bargain hunting from bullish traders," said Jim Wyckoff, senior analyst at Kitco Metals.

Iran and the US started high-stakes negotiations via Omani mediation on Friday to try to overcome sharp differences over Tehran's nuclear program.

Wyckoff said gold's rebound lacks momentum and the metal is unlikely to break records without a major geopolitical trigger.

Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.

Spot silver rose 5.3% to $74.98 an ounce after dipping below $65 earlier, but was still headed for its biggest weekly drop since 2011, down over 10.6%, following steep losses last week as well.

"What we're seeing in silver is huge speculation on the long side," said Wyckoff, adding that after years in a boom cycle, gold and silver now appear to be entering a typical commodity bust phase.

CME Group raised margin requirements for gold and silver futures for a third time in two weeks on Thursday to curb risks from heightened market volatility.

Spot platinum added 3.2% to $2,052 per ounce, while palladium gained 4.9% to $1,695.18. Both were down for the week.