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
- DuPont Is Again in China’s Firing Line in Trade War 2.0 — Beijing probe shows precarious position of U.S. companies and comes after materials maker defended its turf.
- In Secret Meeting, China Acknowledged Role in U.S. Infrastructure Hacks — A senior Chinese official linked intrusions to escalating U.S. support for Taiwan.
- The U.S. and China Are Going to Economic War and Everyone Will Suffer — Untangling the two economies has profound implications for businesses and consumers in both countries, as well as the rest of the world.
- Shein’s Bargain-App Formula Crumbles Under Trump — Chinese fashion giant faces a double whammy of steep U.S. tariffs and an end to its duty-free shipping.
- China’s Tech Giants Move to Support Exporters as Trade Tensions Rise — JD.com plans to spend over $27 billion over the next year.
- Tesla Deletes Buy Option for Model S and X From China Website — The U.S. EV giant continues to face pressure in the world’s largest auto market.
- China Raises Tariffs on U.S. to 125%, Says More Tit-for-Tat Would Be a Joke — Beijing signals this is the last levy increase, but says it will keep fighting against Washington’s moves.
- Ukraine Accuses Russia of Systematically Recruiting Soldiers From China — Kyiv says presence of Chinese citizens in Russia’s army undermines Beijing’s claim to be neutral.
- Opinion: Does Trump Have a China Trade Strategy? — If he wants Beijing to change, he needs the allies he’s tariffing. By The Editorial Board.
The Financial Times
- Shein wins nod from UK regulators for London IPO — FCA’s preliminary approval comes as the fast-fashion company faces challenges from Trump’s tariffs.
- China increases retaliatory tariffs on U.S. imports to 125% — Beijing accuses Trump of violating ‘basic economic laws and common sense’ as it announces tit-for-tat rise in duties.
- Dollar and Treasuries sell off as Trump’s China tariffs spook investors — Scale of U.S. levies on Chinese goods deepens recession fears.
- Australian miners benefit from new Chinese restrictions on rare earth exports — Sector ‘ideally positioned’ to take advantage of disruption to global supply chain.
- Asia’s emerging nations squeezed by Trump tariffs and China’s retaliation — Stock markets of Taiwan, Thailand and Vietnam deep in the red this year, despite rallying after reprieve on tariffs.
- Top Chinese general removed in Xi’s latest purge — He Weidong was number-two in People’s Liberation Army and member of Communist party Politburo.
- Head of British military makes first Beijing visit in 10 years — Trip by Tony Radakin announced only by China’s government amid strained Sino-American relations.
- Opinion: China’s markets become a key gauge of tariff damage — Countries queueing to negotiate with the White House have 90 days to strike a trade deal. By Lex.
The New York Times
- Trump Has Added 145% Tariff to China, White House Clarifies — White House officials clarified on Thursday that the 125 percent tariff the president announced on Wednesday was in addition to a 20 percent added to the country since President Trump returned to office.
- China Raises Tariffs on U.S. Imports to 125%, Calling Trump’s Policies a ‘Joke’ — Beijing’s retaliation came after the White House ratcheted up its tariff on Chinese goods to 125 percent, on top of an existing 20 percent tax.
- Deepening Trade Fight With China Poses New Threat to U.S. Farmers — Soybean producers warn that farms could go under as the Trump administration hits China with new tariffs of 145 percent.
- Steeling China for a Tariff Fight, Xi Faces His Biggest Test Since Covid — Xi Jinping has refused to back down in China’s tariff confrontation with President Trump. But he’ll have to persuade his people that the pain is worth it.
- Tesla Halts Orders in China on U.S. Imported Models — The removal of an “order” button from Tesla’s Chinese website came after Beijing raised tariffs on American imports in response to President Trump’s levies against the country.
- The ‘China Shock’ Offers a Lesson. It Isn’t the One Trump Has Learned. — Economists say the U.S. manufacturing decline in recent decades was not mainly about free trade, but about the pace of change without time to adjust.
- How TikTok’s Parent, ByteDance, Became an A.I. Powerhouse — A set of popular apps helped China’s ByteDance develop a key component of advanced artificial intelligence: information on how a billion people use the internet.
Caixin
- Trump Tariff Shockwave Brings Shanghai’s Busy Port to a Halt Overnight — Containers stand idle along the dock as trans-Pacific voyages are canceled amid tariff confusion.
South China Morning Post
- The more China investigates corruption, the more it finds. Will the battle ever be won? — Even as Xi Jinping’s anti-corruption purges go further and deeper, China’s legacy of corruption remains a widespread and serious problem.
- EU leaders plan trip to Beijing in July for summit with Xi Jinping — No date confirmed with the Chinese side as travel plan indicates serious effort to re-engage amid collapsed relationship with the U.S.
- New AI fund in China to pour US$8 billion into early-stage projects — The AI Industry Investment Fund was established by the industry and finance ministries with money from the Big Fund.
- Chinese firms set aside US$2.7 billion for stock buy-backs as Trump’s tariffs roil markets — More than 100 companies have announced buy-back plans, including PetroChina, Midea Group and CATL.
- Apple’s supply chain under pressure from tariffs amid iPhone price hike speculation — The new tariffs will not hit iPhones assembled in China, but price hikes are expected with the iPhone 17 series this year.
Nikkei Asia
- China’s formidable logistics sector challenges Trump tariff enforcers — One-stop services help merchants sidestep duties, including by undervaluing goods.
- China stagflation risks creep up as Trump tariff war escalates — Beijing digs in on trade, but weak yuan and domestic demand fuel concerns.
- China’s loan rollovers keep Pakistan afloat amid record debt — Economic reliance on Beijing could expose Islamabad to ‘geopolitical risks.’
- Xi Jinping to tour Vietnam, Malaysia, Cambodia amid escalating trade war — Chinese president set for high-stakes trip as Trump eyes deals in region.
- China’s GAC to kick off humanoid robot mass production in 2027 — State-owned automaker to set up demonstration zone this year to clarify uses.
Bloomberg
- Li Ka-shing’s Beijing Rift Threatens His Deal of a Lifetime — For Trump and Xi, the outcome will factor into an increasingly contentious U.S.-China relationship that’s fueling economic and market turmoil around the world.
- Trump and Xi Are Preparing for a War Nobody Wants — The U.S. tariffs are aimed at boosting national security, but Trump is alienating allies he would need in any military conflict with China.
- Trump Tariffs Put U.S. Services Trade Surplus With China at Risk — Last year alone, the U.S. sold a net $32 billion in services to China. That flow could now be in Beijing’s sights.
- Bond Analysts Debate If China Had Role in Treasuries Swings — The possibility of China’s government playing a role is on the more speculative end of the spectrum.
Reuters
- Exclusive: Facing Trump tariffs, Vietnam eyes crackdown on some China trade — U.S. officials have raised concerns about Chinese goods being sent to America with ‘Made in Vietnam’ labels that draw lower duties.
- Exclusive: Chinese exchanges restrict daily stock sales as trade war with US escalates, sources say — Such moves have largely shielded stocks in China from the massive selling seen on global markets.
- Exclusive: China delays approval for Geely, BYD investment plans in Latin America, sources say — Approval from Beijing has taken longer than anticipated and China’s state planner told representatives at the automakers that there would be technology transfer risks in the plans, sources said.
- China primes rare earths weapon as trade war escalates — China has a vice-like grip on every stage of the global supply chain from mining to processing to manufacturing the permanent magnets that power laptops, electric vehicles and fighter jets.
Other Publications
- The Washington Post: Trump’s tariff blitz could hardly have come at a worse time for China — Beijing is remaining defiant in the face of President Donald Trump’s trade measures, but it will have to take some sort of action to shore up its weak economy.
- Foreign Policy: Why Beijing Thinks It Can Beat Trump — China’s elites have a new confidence in their own system.
- POLITICO: ‘Essentially, trade stops’: A former Trump official on what’s next for China — President Donald Trump escalated a high-stakes trade war with Beijing. One former trade official worries he may be overplaying his hand.
- WIRED: Trump’s Trade War Is Strengthening China’s Soft Power — President Trump’s tariffs are boosting China’s global image even as they threaten to decimate its economy.
- CFR: Can Trump’s Shipbuilding Order Compete With Chinese Investment? — Without significant resource support from Congress, it may do little to improve U.S. maritime power.
