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    • SingCham is the premier business chamber for Singaporean interests in Indonesia. Founded in 2006, SingCham aims to promote the business interests of individuals or companies operating in Singapore and/or Indonesia. SingCham provides networking activities, events, and useful information for its members, and acts as the liaison between the Singaporean business community and the Singapore and Indonesian governments. With a focus on fostering better networking and feedback among members, SingCham is committed to providing valuable resources and insights to help members connect, learn, and grow their businesses in Indonesia. Join SingCham today and become part of a thriving business community that benefits from exclusive resources, networking opportunities, and business insights.

    3Aug, 2018
    China unveils retaliatory tariffs on $60 billion of U.S. goods in latest salvo

    China on Friday announced retaliatory tariffs on $60 billion worth of U.S. goods ranging from liquefied natural gas (LNG) to some aircraft and warned of further measures, signaling that it won’t back down in a protracted trade war with Washington.

    China’s finance ministry unveiled new sets of additional tariffs on 5,207 goods imported from the United States, ranging from 5 to 25 percent.

    Timing will depend on the actions of the United States, the Chinese Commerce Ministry said in a separate statement.

    The Trump administration ratcheted up pressure for trade concessions from Beijing this week by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports. China immediately vowed to retaliate though at the same time urged the U.S. to act rationally and return to talks to resolve the dispute.

    The United States and China implemented tariffs on $34 billion worth of each others’ goods in July. Washington is expected to soon implement more tariffs on $16 billion in additional Chinese goods, which China has already announced it will match immediately.

    (read more: Reuters)
    2Aug, 2018
    China vows it won’t back down after Trump’s latest tariff threat

    Commerce Secretary Wilbur Ross signaled there’s more pain ahead unless China changes its economic system, as the Asian nation repeated it will never surrender to U.S. trade threats.

    “We have to create a situation where it’s more painful for them to continue their bad practices than it is to reform,” Ross said in an interview on Fox Business Network on Thursday. The U.S. will keep turning up the pressure on China for as long as the country refuses to level the economic playing field, said Ross.

    “The reason for the tariffs to begin with was to try and convince the Chinese to modify their behavior. Instead they have been retaliating. So the president now feels that it’s potentially time to put more pressure on, in order to modify their behavior,” he said.

    President Donald Trump fanned tensions by ordering his trade office to considering imposing a 25 percent duty on $200 billion worth of Chinese goods, up from an initial 10 percent rate. The move for a higher tariff, which was announced Wednesday, is intended to bring China back to the negotiating table for talks over U.S. demands that China make structural changes to its economy and narrow the U.S. trade deficit. The negotiations broke down last month.

    (read more: Bloomberg)