AFP Asia Business

The US Postal Service (USPS) said Tuesday it was temporarily suspending inbound parcels from China and Hong Kong, shortly after President Donald Trump’s imposition of fresh tariffs targeting Beijing.The halt will take place “until further notice,” and follows Trump’s order for an additional 10 percent levy on Chinese imports starting Tuesday.The order, unveiled over the weekend, …

US Postal Service says suspending parcels from China Read More »

Japan’s Toyota said Wednesday it will build an electric vehicle plant in Shanghai for its luxury Lexus brand as it raised its annual net profit forecast to almost $30 billion.China overtook Japan as the biggest vehicle exporter last year, helped by its dominance in EVs.Many foreign car firms are struggling in China, but Toyota — …

Toyota announces Lexus EV plant in Shanghai Read More »

Nissan shares plunged on Wednesday after Japan’s Nikkei business daily said the carmaker had decided to withdraw from merger talks with rival Honda.The newspaper and other Japanese media had earlier reported that Honda had proposed making Nissan a subsidiary, instead of the previous plan to integrate under a new holding company.”Strong opposition” within Nissan to …

Nissan shares plunge as report says Honda merger talks off Read More »

China’s new tariffs on US imports like oil, coal and cars are relatively modest in scale, suggesting that Beijing is hoping for a last-minute deal but also giving them the option to inflict more pain if needed, analysts say.China on Tuesday fired a return salvo in its escalating trade war with the United States, slapping …

China holds out hope last-minute deal can avert US trade war Read More »