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
- As U.S. Buyers Cancel Orders, Chinese Factories Say No More Discounts — U.S. customers will have to absorb higher costs as disruptions from trade war spread.
- The U.S. and China Are Still in a Trade War. Here’s How Much Business They Do — China, the third-largest supplier of U.S. goods, represents 13.3% of total U.S. imports.
- Trump Pauses ‘Reciprocal’ Tariffs, but Hits China Harder — The 10% global baseline levy for all imports will stay in effect.
- Trump Transforms Tariff War Into High-Stakes Showdown With China — Clash locks world’s two largest economies in an extraordinary conflict without any immediate exits.
- China’s Consumer Prices Continue to Signal Weakness — The consumer-price index declined 0.1% from a year earlier in March.
- China to Curb Imports of U.S. Films in Response to Trump Tariffs — China, the world’s second-largest film market, was once seen as a key revenue market for Hollywood.
The Financial Times
- China musters ‘national team’ to fight on front line in trade war — State-owned funds and companies are bolstering stock markets with massive co-ordinated share buying.
- Ukraine says more than 150 Chinese nationals fighting for Russia — President Volodymyr Zelenskyy accuses Beijing of doing nothing to stop Moscow enlisting its citizens.
- What does Trump’s tariff pause mean for global trade? — Investors and governments are relieved by the latest U-turn, but the outlook remains uncertain.
The New York Times
- Companies See China as a Safe Harbor Amid Trump’s Tariffs — The heavy U.S. tariffs on other Asian countries have made China a more appealing option for companies scared to make a hasty decision amid upheaval in global trade.
- China Says Its Own Consumers Will Save the Day. But They’re Not Buying. — If sky-high U.S. tariffs hurt China’s exports, domestic spending will help make up for it, Beijing says. But shoppers were skittish even before the trade war.
- U.S. and China Headed for ‘Monumental’ Split, Putting World Economy on Edge — A deepening trade war could further weaken ties between the superpowers. The effects will reverberate everywhere.
- Inside Factories in China, a Struggle to Survive Trump’s Tariffs — Small factories with tiny profit margins have played a central role in China’s international competitiveness. Many could now face disaster.
- What to Know About the Latest China Tariffs and What They Mean for Prices — A broad variety of products made in China, including toys, clothing and electronics, may cost more. Shoppers could also see an impact from other tariffs.
- Chinese Lunar Rocks Suggest a Thirsty Far Side of the Moon — Using samples gathered from the Chang’e-6 mission, scientists found that the interior of the moon on the half we never see from Earth might be drier than the near side.
- Zelensky Doubles Down on Claim That Many Chinese Are Fighting for Russia — Ukrainian President Volodymyr Zelensky said more than 150 Chinese men were fighting for Russia in Ukraine, hours after China dismissed claims that many of its citizens were involved in the war.
Caixin
- China’s Cross-Border E-Commerce Faces Disruption from Trump’s Steep Tariffs on Small Parcels — E-commerce giants that have thrived on sending low-cost parcels direct to U.S. customers are exploring new models.
- Shippers Rush to Move Goods as China’s Tariffs Set In — There is a race in the U.S. to get cargo out before the sweeping 84% levy on American goods takes effect.
- Why ‘Ne Zha 2’ Wasn’t a Global Smash — Chinese movies struggle to draw international audiences, which in turn means domestic studios don’t consider global markets much when planning their projects.
South China Morning Post
- Can backchannel diplomacy rescue U.S.-China ties from brutal tariff war? — Rapidly escalating tit-for-tat exchanges are making it hard to see how leadership talks could occur, observers say.
- Microsoft abruptly cuts services to Chinese university, genomics firm — Concerns about technological decoupling have risen after Microsoft ended commercial services for some clients in China.
Nikkei Asia
- Xi Jinping kicks off a factional battle for survival — Party elders’ influence glimmers behind unusual personnel reshuffle.
- Asia’s trade focus shifts to China amid Trump tariffs — Philippines eyes new investments while Thailand and others build up rail link.
Bloomberg
- UK Sends Top Defense Chief to China for First Time in Decade — UK Prime Minister Keir Starmer has sought a rapprochement with China since coming to power in July.
- China Makes Big Brazilian Soy Purchase as U.S. Trade War Worsens — This week’s buying spree is unusually large and fast.
Reuters
- Intel CEO invested in hundreds of Chinese companies, some with military ties — Tan’s appointment raised questions among some investors about the extent of his ongoing involvement with businesses in China.
- Exclusive: Chinese sellers on Amazon to hike prices or exit U.S. as tariffs soar — No other country comes even close to U.S. consumption power.
- China’s deflationary pressures persist as trade gloom worsens — Consumption has been in focus this year with the net export contribution to growth projected to turn negative.
Other Publications
- Foreign Affairs: Underestimating China — America needs a new strategy of allied scale to offset Beijing’s enduring advantages, Kurt Cambell and Rush Doshi write.
- Foreign Policy: How China Should Handle Trump’s Tariffs — Tit-for-tat fights are a dead end.
- The Economist: Can China fight America alone? — The world’s two biggest economies begin an almighty trade clash.
- The Economist: China has a weapon that could hurt America: rare-earth exports — It has only just begun to use it.
- WIRED: BYD Launches Denza in Europe, Another Mighty Impressive EV Brand the US Won’t Get — BYD’s premium sub-brand is all set to take on Audi, BMW, and Mercedes with its crab-walking, blowout-beating Z9GT leading the charge.
- PIEE: US-China Trade War Tariffs: An Up-to-Date Chart — Average US tariffs on Chinese exports now stand at 104.3 percent. These tariffs are more than 30 times higher than before the US-China tariff war began in 2018.
