Xinhua world economic news summary at 0900 GMT, July 6

Xinhua world economic news summary at 0900 GMT, July 6Xinhua world economic news summary at 0900 GMT, July 6.

WASHINGTON — Financial decoupling between the United States and China is “increasingly unlikely” despite the Trump administration’s rhetoric, said Nicholas Lardy, senior fellow at the Washington D.C.-based think tank Peterson Institute for International Economics (PIIE).

“For all the fireworks over tariffs and investment restrictions, China’s integration into global financial markets continues apace,” according to an analysis co-authored by Lardy and PIIE research analyst Tianlei Huang, published on Thursday. (US-China-Financial Decoupling)

TEHRAN — The value of Iran’s trade with the United States stood at 20 million U.S. dollars during the first five months of 2020, Eghtesad Online news website reported Sunday.

The figure registered a 51.1-percent decline compared with the corresponding period of 2019, according to the report. (Iran-US-Trade)

JAKARTA — The free trade deal between Indonesia and Australia that completely removes most trade tariffs for the products of the two nations and aims to ramp up investment has taken effect, Indonesian Trade Minister Agus Suparmanto said here.

The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) which took effect on Sunday was inked in 2019 and ratified by the Indonesian parliament in February, 2020. (Indonesia-Australia-FTA)

SEOUL — South Korea’s biggest automaker Hyundai Motor said Monday that it exported the world’s first fuel cell heavy-duty commercial truck to Europe, aiming to ship a total of 1,600 such trucks by 2025.

Hyundai said in a statement that the first 10 units of the Hyundai XCIENT Fuel Cell, the world’s first mass-produced fuel cell heavy-duty truck, were shipped to Switzerland earlier in the day. (South Korea-Europe-Motor Exports) Enditem.