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
- China Wanted to Negotiate With Trump. Now It’s Arming for Another Trade War. — Communication between Washington and Beijing is at a standstill, raising the prospects of a long cycle of tariff retaliation. ‘Trump and Xi are locked in a paradox of pressure and pride.’
- Trump’s Trade Broadside Puts Chinese Economy Under Heavy Pressure — Export-heavy China’s vulnerability to trade fight raises stakes for its efforts to stimulate domestic consumption.
- The China Foe Storming State Capitols — Lobbyist Michael Lucci makes patriotic appeals to drive anti-Beijing laws across the U.S.
- Here’s the iPhone. Here’s the iPhone With Tariffs. — This is what Apple pays for components inside its bestselling phone, and how Trump’s China tariffs could raise the bill.
- Chinese Tech Stocks Plunge on Escalating Trade War — The Nasdaq-like Hang Seng Tech Index in Hong Kong was down 14% at midday.
The Financial Times
- The relentless innovation fuelling China’s ‘brutal’ car wars — Top 10 local EV makers dominate sales and drive home advantage with faster charging and autonomous systems.
- China investigates ‘princeling’ amid crackdown on finance industry — Skycus Capital founder Liu Tianran is the son of former vice-premier Liu He.
- China reserves firepower for Trump trade battle — Beijing has room to more strictly enforce export controls and step up pressure on U.S. companies.
The New York Times
- U.S. Farmers Brace for Losses in New Trade War With China — China is the third-biggest buyer of U.S. agricultural products. Now that it has punched back with tariffs on American goods, farmers can expect to feel the pain.
- ‘The Tsunami Is Coming’: China’s Global Exports Are Just Getting Started — A staggering $1.9 trillion in extra industrial lending is fueling a continued flood of exports that could be spread even wider across the world by the Trump tariffs.
- China Tries to Downplay the Trade War’s Effects on Its Economy — Faced with economic disruption, Beijing is presenting itself as too powerful to succumb to U.S. pressure. It is also censoring criticism at home.
Caixin
- Why China Should Get Tougher on Smog — Stricter air quality standards will enhance public health and drive energy transition efforts, paving the way for a cleaner and more sustainable future.
- Trump Tariffs Put Global Trade System in Crisis as Countries Retaliate and Stock Markets Plummet — Goldman Sachs slashes first-quarter U.S. GDP growth forecast as recession risk rises.
South China Morning Post
- How Alibaba is turning into China’s AI powerhouse and a school for entrepreneurs — By empowering innovations through its own technology and supporting former employees, the tech giant is reshaping China’s AI landscape.
- Gold, dollars? China’s middle class unsure where to invest amid market chaos — Chinese investors have no easy options as domestic real estate prices tumble and turbulence roils the financial markets.
- China’s consumers are finally starting to spend again. But will it last? — A barrage of stimulus policies has helped lift consumer sentiment in China, but the recovery is still tentative – and could be dented by a U.S. trade war.
Nikkei Asia
- Southeast Asians embrace Chinese minidramas as Beijing expands influence — 8-minute installments are hot in Indonesia and Thailand, creating business opportunities.
- China’s ‘Shein Village’ dims amid country’s economic shift — Labor-intensive industries move to Southeast Asia as wages rise at home.
- China’s Hainan shines as free trade port in time of Trump tariffs — Province draws foreign cash as a tourism, shopping and medical destination.
- China assures Tesla, other U.S. companies over tariff retaliation — Beijing says it wants Washington back on ‘right track,’ insists ‘sky will not fall.’
- The ‘Chinatownification’ of Japan’s pop culture hot spots — Tokyo’s Akihabara is no longer a domestic anime and video game bastion.
Bloomberg
- Trump’s TikTok Plan Upended by Chinese Objections Over Tariffs — China withheld its approval following this week’s tariff announcement, a source said.
- Chinese Markets Reel as Trade War Fuels Growth Slowdown Fears — The heavy selloff worsened a global market rout that has followed U.S. President Donald Trump’s sweeping tariff announcements last week, and the subsequent retaliation from Beijing.
Reuters
- CATL in talks to buy controlling stake in Nio’s power unit, sources say — CATL made the proposal after announcing a maximum 2.5 billion yuan ($342 million) investment in the unit.
- Microsoft venture Wicresoft to halt China operations, lay off staff, report says — The move raises questions about how the U.S. tech firm will service China-based users of its Windows and Office products.
Other Publications
- The Washington Post: While China derides U.S. tariffs, others seek to de-escalate tensions — “The market has spoken,” a Chinese official said of the tariff turmoil, but other countries are making overtures to the U.S. to try to contain the fallout.
- The Economist: To secure exports to Europe, China reconfigures its rail links — A new line will bypass its best friend, Russia.
- MIT Technology Review: How the Pentagon is adapting to China’s technological rise — A conversation with Kathleen Hicks, the former deputy secretary of defense.
- New Statesman: China intends to crush the trade war — Beijing has retaliated against Donald Trump’s tariffs — and the response was far stronger than expected.
- WIRED: The AI Race Has Gotten Crowded, and China Is Closing In on the U.S. — New research from Stanford suggests artificial intelligence isn’t ruled by just OpenAI and Google, as competition increases across the US, China, and France.
