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View all search resultsLi, during a visit to Washington in August, had allegedly threatened that "China would unleash chaos on the global system if the US went ahead with our docking fees for Chinese ships", Bessent said in an interview with media outlet CNBC on Wednesday.
Trump’s sweeping tariffs have arguably spurred both regions into action, with governments quickly realizing the need to secure reliable and long-lasting trade partnerships amid rising protectionism and shifting alliances.
The government has lambasted the European Union’s decision to appeal a World Trade Organization (WTO) ruling supporting Indonesian biodiesel exports, arguing that the move went against the spirit of freshly elevated economic ties.
The RCEP is seen as a potential buffer against tariffs imposed by US President Donald Trump's administration, though its provisions are considered weaker than some other regional trade deals due to competing interests among members.
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