consultations

Recent adjustments to multiple tariff and non-tariff measures have been made by both China and the United States, beginning to implement the consensus reached during the Kuala Lumpur economic and trade consultations. On the 4th local time, the White House issued two presidential executive orders, announcing that starting from November 10, 2025, the 10% so-called fentanyl tariff imposed on Chinese goods will be canceled, and the one-year extension of the 24% reciprocal tariff on Chinese goods will be implemented. On the 5th, two Chinese departments successively released corresponding adjustment measures. Huo Jian Guo, vice president of the China WTO Research Association, stated that currently, both sides are implementing the first aspect of the consensus, which involves the increase of fentanyl tariffs and the reciprocal tariffs imposed on China on March 4 and April 4, with China taking corresponding countermeasures.He indicated that according to the consensus reached by both sides, the future implementation of the results of China-U.S. consultations will involve the U.S. 50% penetration rules and relevant trade restrictions related to the 301 investigations on China's maritime, logistics, and shipbuilding industries, as well as cooperation on fentanyl control and the expansion of agricultural trade between both sides. (Global Times)

ChainCatcher news, according to Global Times, on October 26, the China-U.S. economic and trade teams concluded two days of consultations in Kuala Lumpur, the capital of Malaysia. Some media reported that this was the fifth face-to-face consultation between the China-U.S. economic and trade teams since May of this year. After the talks, Beisent stated in an interview with U.S. media that after the two-day discussions in Kuala Lumpur, both sides reached a "very substantive framework agreement," and the U.S. side "no longer considers" imposing a 100% tariff on China.

ChainCatcher news, according to Yahoo Finance, U.S. Treasury Secretary Yellen announced during an interview with Fox News on the 22nd local time that the third round of China-U.S. trade talks will be held next Monday and Tuesday in Stockholm, Sweden. Previously, the two sides held two meetings in Geneva and London. The report states that August 12 is the deadline for the suspension of tariff increases between China and the U.S., and the latest round of talks aims to postpone this deadline.According to CNBC, Swedish Prime Minister Kristersson later confirmed on the 22nd that Sweden will host the latest round of talks between Washington and Beijing. He stated on X, "This negotiation primarily concerns China-U.S. relations, but it also has significant implications for global trade and the economy."

ChainCatcher news, according to The Wall Street Journal, at the American Society for Human Resource Management (SHRM) conference held in San Diego, former U.S. President Biden delivered a speech lasting over an hour to thousands of HR professionals. This was his first lengthy public speech since revealing his prostate cancer diagnosis in May.He stated that several key achievements during his administration are "rapidly changing" under the Trump administration, and mentioned that after leaving office, several European leaders sought his advice. Biden said that he remains involved in political discussions "because I really care about what I do," and that both Democratic and Republican lawmakers have called him to exchange ideas.

ChainCatcher news, according to Jinshi reports, the U.S. Treasury Department stated on Friday local time that senior officials from the U.S. and Japan agreed to immediately begin working-level consultations based on the current discussions and to hold more ministerial meetings in the near future.The statement noted that U.S. Treasury Secretary Yellen, U.S. Secretary of Commerce Raimondo, and U.S. Trade Representative Tai met with Japan's Minister of Economic Revitalization Nishimura on Thursday local time. Both sides had candid and constructive discussions on fair and reciprocal trade.During the meeting, Yellen emphasized to Nishimura the importance of tariffs and non-tariff measures, economic security as a matter of national security, and other concerns.

According to ChainCatcher news and the Wall Street Journal, to simplify negotiations on reciprocal tariffs, U.S. negotiators plan to use a new framework developed by the Office of the United States Trade Representative (USTR), which outlines major categories for negotiation, such as tariffs and quotas, non-tariff trade barriers, digital trade, product origin principles, economic security, and other business issues. Within these categories, U.S. officials will propose specific demands for individual countries, but informed sources emphasize that this document may be adjusted at any time. According to insiders, the initial plan is to negotiate in turn with 18 major trading partners over the next two months, with the preliminary plan to alternate discussions involving six countries each week (six countries in the first week, another six in the second week, and six more in the third week) until the deadline of July 8. If President Trump does not extend the 90-day suspension he set, those countries that fail to reach an agreement will begin to face reciprocal tariffs.

ChainCatcher news, according to Cointelegraph, the Bank of Latvia is taking proactive measures to provide free pre-licensing consultations for crypto asset service providers in line with the upcoming EU cryptocurrency regulations.Starting from January 2025, the bank will be responsible for accepting applications and issuing licenses to CASPs in the country. Meanwhile, the bank stated that it is helping businesses prepare for this through free pre-licensing consultations. Central bank experts will provide businesses with regulatory guidance tailored to their needs, all necessary documentation, and an initial assessment of each business's compliance level.

ChainCatcher news, the European Banking Authority (EBA) has launched a three-round consultation on the draft Regulatory Technical Standards (RTS) under the Markets in Crypto-Assets Regulation (MiCAR) to specify the liquidity requirements for asset reserves, highly liquid financial instruments within asset reserves, the minimum content of liquidity management policies, and the procedures for token issuers. The consultation will last until February 8, 2024.In a consultation initiated regarding the trading reports of Asset-Referenced Tokens (ART) and Electronic Money Tokens (EMT) denominated in non-EU currencies, the EBA stated that the RTS draft aims to clarify the scope of trading related to the use of ART and EMT as trading instruments denominated in non-EU currencies, the scope of trades that issuers should report, and how issuers should estimate the quantity and value of such trades.In the consultation launched on the draft recovery plan guidelines prepared by ART and EMT issuers, the EBA indicated that through the recovery plan, issuers of ART and EMT should be prepared in advance to address adverse situations that may affect their ability to comply with the regulatory requirements applicable to asset reserves.The EBA also proposed the overall technical framework for liquidity management of asset reserves. This includes the minimum creditworthiness and liquidity robustness for credit institutions absorbing deposits from issuers, concentration limits on deposits from issuers at credit institutions, and over-collateralization of token-supported assets.

ChainCatcher news, the Uniswap Foundation has announced a new round of proposal solicitation for the launch of Uniswap V4. The community can submit proposals before September 1. Proposals include those related to "forming a development team for proof of concept (POC) Hooks," "recruiting academic researchers and reliability auditors for risk research," "open-source design for Uniswap LP user experience," "creating liquidity widgets," and more.

ChainCatcher news, according to Bitcoin.com, Jon Cunliffe, the Deputy Governor of the Bank of England responsible for financial stability, stated that the collapse of the cryptocurrency exchange FTX highlights the urgent need for stronger cryptocurrency regulation. Although the crypto world is currently not large enough and its interconnections with mainstream finance do not pose a threat to the stability of the financial system, its links with mainstream finance have been rapidly developing.Jon Cunliffe emphasized, "We should not wait until cryptocurrencies are large and interconnected enough to create a necessary regulatory framework to prevent potential larger disruptive impacts from cryptocurrency shocks." Additionally, he mentioned that the UK Treasury will soon begin consultations on expanding investor protection, market integrity, and other regulatory frameworks that cover the promotion and trading of financial products, involving activities and entities related to crypto assets. (source link)