The Trump administration’s export-control licensing regime is achieving little strategic benefit while costing the United States billions of dollars in lost exports and undermining American companies’ global market share, according to a new business survey. “Months-long licensing delays are costing the United States billions of dollars in exports and eroding American market share globally,” the US-China Business Council (USCBC) found in a flash survey of companies conducted in July. The survey...

US Undersecretary of Defence for Policy Elbridge Colby avoided naming Beijing or addressing escalating tensions in the South China Sea during a speech in Manila on Monday, adopting a measured tone weeks before an expected meeting between US President Donald Trump and Chinese leader Xi Jinping. Despite speaking in the capital of Washington’s oldest treaty ally in Asia, Colby made no direct reference to recent confrontations between Chinese and Philippine forces near the disputed Scarborough...

US President Donald Trump on Monday demanded that Iran compensate the victims of attacks, conflicts and domestic repression he blamed on Tehran, adding a new condition to negotiations over reopening the Strait of Hormuz. The demand came after Iran reiterated that Washington must compensate it for damage caused by more than five months of US and Israeli strikes before the strategic waterway can be fully reopened. “It is an interesting idea because now I am likewise demanding compensation from...