Good Morning. Welcome to The Wire’s daily news roundup. Each day, our staff gathers the top China business, finance, and economics headlines from a selection of the world’s leading news organizations.
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The Wall Street Journal
- Trump Turns Up the Heat. China Says Bring It On. — Beijing doubles down on self-reliance, vows to grow economy and military.
- Beijing Ramps Up Efforts For Tech Independence — In a speech to the country’s lawmakers, Chinese Premier Li Qiang said AI would be key to boosting China’s digital economy.
- Trump Administration Readies Order to Bolster U.S. Shipbuilders, Punish China — A draft order includes measures such as raising revenue from Chinese ships and tax credits and grants for shipyards.
- BlackRock Strikes Deal for Panama Ports After U.S. Pressure — The deal puts U.S. firms in control of two ports that President Trump raised as a security concern because of their connection to China.
- China Sets Strong Growth Target as It Hits Back at U.S. Tariffs — If the U.S. “insists on launching a tariff war, a trade war or any other war, China will fight to the end,” said a Chinese spokesman.
- China Sets 2025 Growth Target at About 5% Despite Looming Trade Tensions — China has set an economic growth target of around 5% for 2025, unchanged from last year, despite mounting challenges from trade tensions, weak domestic demand and a prolonged property downturn.
- Trump’s Broad Canada-Mexico-China Tariffs, Explained — Tariffs on America’s three largest trading partners and retaliation by the countries are thrusting the U.S. economy and businesses into uncharted waters.
The Financial Times
- China sets growth target around 5% despite threat from US tariffs — Beijing outlines fiscal spending plans amid lagging domestic consumption and mounting trade tensions.
- Europe’s clampdown on Chinese EVs forces U-turn at state-owned GAC — Carmaker looks at hybrids and local production after tariffs lead to strategic overhaul.
- Trump’s tariffs will bring ‘nothing but pain’ to rural America, say farmers — Agriculture industry warns that customers are looking elsewhere for key commodities.
- Hong Kong targets creation of rival to Euroclear — Authorities explore new Asian settlement house to boost global use of renminbi.
- Opinion: The US has spurred the Chinese chip industry — Sanctions have accelerated the rise of Nvidia’s rivals as they seize a shift in AI use. By June Yoon.
The New York Times
- China’s Economic Plan Is Light on Detail as Trade War Intensifies — The country’s top leaders set an optimistic growth target but gave few hints of how to achieve it as their export-led strategy is challenged by rising tariffs on Chinese goods.
- Why the Philippines Is Confident of Defense Ties With Trump Administration — Officials in the Philippines say that President Trump will not pull back from defense commitments because Manila and Washington have a common adversary.
- How Retaliatory Tariffs by China, Canada and Mexico Could Harm American Farmers — Trade wars during President Trump’s first term slashed billions of dollars in U.S. agricultural exports. Farmers and trade groups expect an even bigger hit this time.
- Trump’s Latest Tariffs on Canada, Mexico and China Could Be His Biggest Gamble — President Trump has offered a mix of reasons for upending global trade relations, baffling and angering America’s biggest trading partners.
- Canada and China Retaliate Against Trump’s Tariffs, Amid Fears of Trade War — Prime Minister Justin Trudeau of Canada warned that the Trump administration’s tariffs were leading to a trade war. Mexico’s leader vowed to impose countermeasures on Sunday.
- Trump’s New Tariffs Could Strain Collection of Customs Fees — Importers will have to make changes to pay new tariffs on goods from Canada, Mexico and China, and government agencies will need more resources to enforce the fees.
- Trump Administration Ties Tariffs to Fatal Fentanyl Overdoses, Which Are Declining — The decrease in fentanyl overdoses, drug policy experts have said, has more to do with public health measures than changes in border policies.
- BlackRock Will Buy Panama Canal Ports from CK Hutchison — An investor group led by BlackRock will acquire two ports near the Panama Canal that are owned by CK Hutchison and have been the subject of a dispute between President Trump and Panama.
Caixin
- With an Eye on AI, Huawei Plans Deeper Expansion in Qatar — Tech titan is touting its artificial intelligence capabilities and rich experience in the Middle East to build up its cloud business in the Gulf state, the unit’s regional AI head tells Caixin.
South China Morning Post
- Top scientist urges China to develop alternative to Nvidia’s CUDA software — Li Guojie, a computer scientist from the Chinese Academy of Sciences, also suggests that OpenAI may be hitting the scaling wall.
- As Trump pursues isolationism, China vows to spend more and open to the world — In Beijing, Premier Li Qiang pledges more spending to drive economic growth, while in Washington the president announces dramatic cutbacks.
- China discovers 2 major shale oilfields in boost for energy security — Beijing has launched a drive to uncover new domestic fossil fuel reserves as it seeks to reduce its dependence on imports.
- Trump calls for end to bipartisan US$52 billion Chips and Science Act — Taiwan’s TSMC is among 20 companies that reached binding agreements for Chips Act support before Joe Biden left office.
- Opinion: Behind loud headlines, China’s economy is quietly making strides — Contrary to simplistic narratives of vulnerability is a dynamic and evolving economy still playing a pivotal role on the global stage. By Jianlu Bi.
Nikkei Asia
- China gains U.N. clout, filling void left by Trump’s ‘America First’ — Contributions to top 20% while Chinese officials take senior roles at world body.
- China races to govern the country with DeepSeek — but at what risk? — Worries over AI ‘hallucinations’ and data security take a back seat to FOMO.
- Opinion: ASEAN must juggle China’s export surge with global de-risking — China’s industrial overcapacity is flooding ASEAN markets, testing the region’s trade policies. By Brendan Kelly and Shay Wester.
Bloomberg
- How China Aims to Trump-Proof Its Economy as Top Lawmakers Meet — China’s National People’s Congress is convening from March 5 to 11, giving leaders a chance to set the economic direction of the country and lay out their spending plans for the year ahead.
- Xi’s Growth Goal Will Need Big Stimulus If Trade War Escalates — President Xi Jinping signaled China’s determination to push ahead with an ambitious growth goal this year, despite the trade war. If Donald Trump boosts tariffs further, analysts say Beijing will need to unleash big stimulus to hit the target.
- Opinion: Xi Just Got the Chance He’s Been Waiting For — Beijing is positioning itself as the global grown-up, while the US disrupts decades of stable foreign policy. By Karishma Vaswani.
Reuters
- China prioritises consumer spending ahead of technology as economic worries weigh — Chinese Premier Li Qiang’s report on Wednesday to the annual meeting of the country’s parliament on major tasks for 2025 promised a “special action plan” for vigorously boosting consumption and stimulating domestic demand.
- China to boost food imports from Latin America, Europe as US trade war escalates — China is the largest market for U.S. farm exports, taking $29.25 billion worth of products in 2024, and any shift in trade flows could create opportunities for rival exporters.
- Canada and US offered Uyghurs in Thailand asylum before deportation to China, sources say — Thailand has defended the deportation, which came despite calls from United Nations human rights experts, saying that it acted in accordance to laws and human rights obligations.
Other Publications
- Foreign Policy: Trump Can Make a Deal to Save America’s Auto Industry — Beijing’s capture of global markets offers a U.S. road map.
- The Washington Post: Never mind Trump’s tariffs. The Chinese Communist Party remains defiant. — China’s leaders forecast economic growth of “about 5 percent” this year despite an escalating trade war with the Trump administration that could sap demand for exports.
- The Information: DeepSeek Spurs Black Market Demand for Nvidia Gaming Chips in China — When DeepSeek’s success in developing competitive artificial intelligence models at a low cost prompted a $750 billion sell-off in Nvidia shares in late January, Nvidia CEO Jensen Huang wasn’t worried.
