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
- U.S.-China Brawl Takes Center Stage in Global Trade War — A 20-year trade imbalance between the two economies is at the center of Trump’s tariff battle.
- Ukraine Says It Captured Two Chinese Citizens Fighting for Russia — Kyiv says presence of Chinese nationals signals that Moscow seeks to continue war.
- China Denies Military Involvement in Ukraine After Citizens Captured — Ukraine says the two Chinese men were fighting in the Russian army.
- China Has Readied a Trade-War Arsenal That Takes Aim at U.S. Companies — Beijing’s strategy to hit back at Trump goes well beyond tariffs, targeting companies who bank on their China ties.
- China Looks to Forge Closer Trade Ties With Neighbors — U.S. President Trump’s additional tariffs on China kicked in Wednesday.
- China Auto Sales Rose Sharply in March on Subsidies, Softer Price Competition — Sales of electric vehicles continued to be robust.
- Volkswagen Vehicle Deliveries Rise Despite China Weakness — The company said its group vehicle deliveries rose 1.4% on year to 2.13 million in the first quarter.
The Financial Times
- China gains dexterous upper hand in humanoid robot tussle with U.S. — Cheaper components, fast-paced innovation and Beijing-led financing mean lifelike bots could mirror EV success.
- Trump to proceed with extra 50% tariff on China as trade war escalates — White House says additional duties will begin on April 9 as Beijing warns that it will ‘fight to the end.’
- U.S. tripling of small-package duties delivers further blow to Shein and Temu — Ecommerce platforms were already facing closure of duty-free loophole for parcels from China.
- How China’s record trade surplus helped spark Trump’s tariff war — Beijing’s domination of global trade has led to a schism between the world’s two largest economies — and left many others worried about their industries.
- Zelenskyy says Chinese men fighting for Russia captured in Ukraine — Ukrainian president demands explanation and accuses Beijing of actively participating in Moscow’s war.
- Opinion: Chinese banks are feeling the strain — Investment case for the country’s state-owned lenders is no longer straightforward. By Lex.
- Opinion: Trump’s self-defeating tariffs on south-east Asia — Forced to choose between the U.S. and China, the likes of Vietnam may opt for Beijing. By The Editorial Board.
The New York Times
- Chinese Intelligence May Be Trying to Recruit Fired U.S. Officials — An advisory says that foreign agencies are posing as consulting firms, think tanks and other organizations to connect with former government employees.
- Trump Maintains 104% China Tariffs as U.S. Officials Signal Openness to Talks — President Trump’s next round of tariffs on major trading partners goes into effect just after midnight, bringing levies on China to at least 104 percent.
- China Censors Hashtags Mentioning ‘104%,’ the Size of Trump’s Tariffs — State media drove social media discussions around phrases like: “America is fighting a trade war while begging for eggs.”
- China Condemns American ‘Protectionism’ — Beijing issued a lengthy denunciation of U.S. trade policies and accused Washington of violating a trade deal the countries reached in President Trump’s first term.
- For U.S. and China, a Risky Game of Chicken With No Off-Ramp in Sight — Neither side wants to look weak by backing down on tariffs. But if their trade relationship collapses, the global consequences could be profound.
- Panama Official Accuses Hong Kong Port Operator of Misconduct — The controller general of Panama said CK Hutchison, a Hong Kong conglomerate, did not properly renew its license to operate two ports that are part of a $19 billion deal involving BlackRock.
- China Criticizes JD Vance for Calling Its People ‘Peasants’ — A spokesman for China’s foreign ministry denounced the vice president’s comments as “ignorant and impolite.”
- U.S. Commanders Worry Yemen Campaign Will Drain Arms Needed to Deter China — American military officials say the Pentagon might need to dip into stockpiles in Asia to replenish supplies in the Middle East, congressional aides say.
- Zelensky Claims Capture of 2 Chinese Citizens Fighting for Russia — The Ukrainian president did not suggest that they had been sent by Beijing’s military, but he pointed to their presence as further evidence that Moscow was not truly interested in peace.
- China Dismisses Ukraine’s Assertion That ‘Many’ Chinese Are Fighting for Russia — President Volodymyr Zelensky of Ukraine said that two Chinese men fighting alongside Russian troops had been captured and that there were “many more” on the battlefield.
- Opinion: Can Tim Cook Save Apple From Being Crushed by Trump? — You will probably have to pay a lot more for your next iPhone. That’s bad news for Apple, for our markets and for our economy. By Patrick McGee.
Caixin
- Cargo Ships Are Racing Across Pacific as U.S.-China Tariff Deadline Looms — Container shipping rates soar as confusion and urgency grip the logistics industry.
- Opinion: Why China’s Semiconductor Sector May Win the Tariff War — The battle is reshaping global supply chains. For China’s chipmakers, it could provide a window of opportunity. By Gu Wenjun.
South China Morning Post
- As tariff blowback increases, Trump focuses on China — Amid market gyrations and a growing chorus of critics, a disorganised White House faces a day of swings and bad behavior.
- Can Panama’s port concession audit give Hutchison a way out of geopolitical storm? — Anel Flores, Panama’s comptroller general, on Tuesday presented results of sweeping financial audit of ports concession with Hong Kong company.
- Chinese exporters said to be ditching shipments mid-voyage to avoid crushing Trump tariffs — One export company’s U.S.-bound container volume has plummeted, from 40 to 50 containers a day to just three to six..
- Chinese residents of Malaysian ‘ghost city’ and indebted developer spot a few green shoots — Luxury compound still has no supermarket, but more Singaporeans are making day trips on weekends.
Nikkei Asia
- China hawk Colby confirmed as U.S. defense policy chief — Advocate of limited military engagement seeks more defense spending by Tokyo, Taiwan.
- From Apple to Samsung, Trump’s tariffs force supply chains to adapt fast — Asian suppliers to HP, Dell and more reckon with a deeper, longer trade war.
- Alibaba Cloud goes after global users with upgraded AI tools — China’s leading cloud service offers new capabilities powered by Qwen model.
- China’s mini-LED TV sales soar on consumer subsidies — Growing production could lower global prices for advanced screens.
Bloomberg
- Badger Hair and iPhones: Where U.S.-China Decoupling Is Hardest — Disentangling the relationship will be a tall order.
- Spain Pushing for EU Pivot to China to Counter Trump Tariffs — Prime Minister Pedro Sanchez can argue that Spain is the go-to partner for China in Europe at a time of growing economic uncertainty.
Reuters
- Exclusive: TSMC could face $1 billion or more fine from U.S. probe, sources say — Penalizing TSMC comes at a critical moment for U.S.-Taiwan relations.
- Exclusive: Apple supplier Luxshare weighs manufacturing in U.S. to tackle tariffs — Remarks by the Chinese company, which assembles iPhones and makes AirPods, provide a glimpse into deliberations by companies around the world scrambling to tackle tariffs.
- Exclusive: China’s central bank asks state lenders to reduce dollar purchases, sources say — The directive from authorities comes as the yuan faces heavy downward pressure.
- Exclusive: China plans high-level meet to craft support measures after US tariff hikes, say sources — Economists have warned that the fusillades on trade could shave one to two percentage points off Chinese growth.
- In China, whispers of change as some companies tell staff to work less — It’s a sign of how the zeitgeist for China Inc is slowly changing.
Other Publications
- The Economist: China’s shoemakers seem more sanguine than its politicians — A trade war will cause a lot of damage, but many have weathered storms before.
- The Washington Post: Tariffs put Taiwan on shaky ground with U.S., may open door for China — A 32 percent tariff on most goods from Taiwan is the latest in a string of confusing signals from the Trump administration that has Taipei wondering where it stands.
- Los Angeles Times: Trump tariffs are another nail in the coffin for Hollywood in China — A Chinese ban on U.S. movies would haul entertainment companies to the front lines of the trade war.
- ChinaFile: Three Potential Pitfalls of Trump’s Approach to China — Trump’s seeming indifference to Taiwan’s security and escalating attacks on U.S. allies and partners will undercut his bargaining power when he sits down with Xi.
- CSIS: China’s Power Play Across the Pacific — The last several weeks of Chinese activity in Oceania have proven that the Wolf Warrior message remains potent.
