The United States (US) unveiled a new rule Friday to tighten an exemption allowing low-value imports to enter the country duty-free, taking aim at Chinese shipments that might be benefiting from it. The proposal disqualifies certain products from the low-value, or “de minimis” exemption, which allows goods valued at $800 or below to come into the United States without paying …

Nigeria has renewed its bilateral currency swap agreement with China, a move that underscores the deepening financial and economic cooperation between the two nations. The Central Bank of Nigeria (CBN) and the People’s Bank of China (PBOC) announced the renewal of the arrangement on Friday, with the agreement amounting to N3.28 trillion, equivalent to approximately 15 billion yuan or $2.09 …

The United States has added South Korea to its “monitoring list” of major trading partners whose currency practices call for closer attention, according to a Treasury Department report released Thursday. The semi-annual report looks into countries with large trade surpluses with respect to the United States that also actively intervene in foreign exchange markets to gain a competitive advantage. It …

Former Nigerian President, Chief Olusegun Obasanjo, has declared that the People’s Republic of China is an important economic partner for Africa. He added that Chinese cooperation with Africa has not only advanced infrastructure development but also facilitated the transfer of technology and the exchange of personnel Speaking on behalf of the InterAction Council (a body of former Presidents and Heads …

Taiwan’s defence minister accused China on Tuesday of being the “number one country conducting daily cyberattacks” against the democratic island and denied allegations about Taipei-backed hackers targeting Beijing. China claims the self-ruled island as part of its territory and relations between the two have plummeted in recent years as Beijing has increased its rhetoric about “unification” being “inevitable”. Taiwanese authorities …

President Bola Tinubu will return to Abuja on Sunday, following his official visit to China and his short stay in the United Kingdom. In a statement on Saturday evening, Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga recalled that President Tinubu left Abuja for Beijing, China, on 29 August. The statement read: “He started his official …

Solid Minerals Development Minister Dr. Oladele Alake has hailed the $1 billion (N1.6 trillion) new iron ore to steel project planned for Kogi State as a breakthrough in the Federal Government’s campaign to make local value addition to the model of development in the solid minerals sector. Addressing the promoters- Chart and Capstone Integrated Limited of Nigeria and Sinomach-He of …

Nigeria and China have signed a $3.3 billion deal to develop the Brass Industrial Park and Methanol Complex in Bayelsa State. In a statement on Friday, The Director of Information and Public Relations of the Federal Ministry of Finance, Mr. Mohammed Manga, disclosed that the deal was signed on the sidelines of the Africa-China Conference in Beijing. He said the …

Nigerian and China will open high-level economic discussions today in Beijing. President Bola Ahmed Tinubu, who is leading the Nigerian delegation, arrived yesterday morning to the warm embrace of his hosts. Special Assistant to the President on Social Media, Olusegun Dada on his X handle @DOlusegun, announced the president’s arrival yesterday morning. The President is due to sign Memoranda of …

China and the Philippines accused each other on Saturday of deliberately ramming their coast guard ships near a flashpoint shoal in the South China Sea, the latest in a spate of similar incidents in recent weeks. China claims almost all of the economically vital waterway despite competing claims from other countries and an international court ruling that its assertion has …