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.
Paid subscribers automatically have this list emailed directly to their inboxes every day by 10 a.m. EST. Subscribe here.
The Wall Street Journal
- At China’s Wholesale Hub, U.S. Orders Have Suddenly Halted. One Example: Socks. — Chinese sellers remain confident despite higher tariffs, saying it no longer makes sense to sell everyday goods to Americans.
- China’s Exports Surge as Orders Front-Loaded Before Tariffs — Outbound shipments in March rose 12.4% compared with the same period a year earlier.
- U.S. Allies Are Sitting Out Trump’s Trade War With China — Imposition of new tariffs on nearly every country adds to concerns in Europe and Asia about relying on America.
- Roasted Duck, Plums and Cheese: The Bizarre Brews Fueling China’s Coffee War — Cafes are putting everything they can think of into drinks to stand out in hypercompetitive market.
- Tim Cook’s ‘Long Arc of Time’ Prepared Apple for the Trade War — The CEO managed to help the iPhone avoid another U.S. battle with China.
- Amazon Wants to Keep Prices Low. One Seller’s Tariff Woes Show Why It’s Hard — If tariffs on Chinese products stay high, Ramon Gonzalez says he might have to close his online shop.
- China’s March Lending Jumped on Government Stimulus Push — Beijing boosts fiscal support to shore up tariff-hit economy.
- What Apple Has at Stake in China — The iPhone-maker just received some reprieve from tariffs, but is still heavily reliant on the Chinese manufacturing economy it helped build.
- Tariffs Will Hammer Solo Stove. Its Amish-Made Rival Is Ready. — Solo Stove’s Chinese-made fire pits face steep tariffs while rival Breeo advertises its ‘tariff proof’ products.
- The Chinese CEO Who Believes Her Cancer Drug Can Beat Merck’s Bestseller — Michelle Xia represents a rising generation of biotech companies in China challenging Western giants.
- As the U.S. Alienates Old Friends, China Is Ready to Reap the Benefits — President Trump’s erratic and aggressive foreign policy gives Beijing the chance to portray itself as a pillar of global stability.
- Opinion: El Salvador’s Bukele Is a China Ally — Despite his visit to the White House on Monday, he is no friend of the U.S.. By Mary Anastasia O’Grady.
The Financial Times
- China says ‘sky won’t fall’ as exports surge ahead of Trump’s tariffs — Rush of shipments preceded escalation of trade war between world’s two biggest economies.
- UK retail bosses raise fears of Chinese ‘dumping’ due to Trump tariffs — Companies flag signs of goods being diverted from US to Europe via platforms such as Temu, Shein and Amazon.
- Xi warns ‘no winners’ from Trump trade war as he heads to Vietnam — Chinese leader seeks to strengthen ties with export-dependent economies facing high US levies.
- US tech tariff exemption will be temporary, says Trump — US president says products given reprieve will fall under separate regime.
- Trump exempts smartphones from ‘reciprocal’ tariffs — Dispensation is first sign of softening of levies against China and provides a big boost for Apple.
- British MP denied entry to Hong Kong — Wera Hobhouse’s ejection ‘appears linked to her criticism of Beijing’, says international human rights alliance.
- Trump’s China trade war a ‘boon’ for Brazil but sends US farmers reeling — Latin America’s largest economy is poised to extend its lead as China’s top food supplier.
- The Chinese goods Americans most rely on, from microwaves to Barbies — Donald Trump’s tariffs will hit millions of video game consoles, electric fans and toys shipped to the US from China.
- China’s exporters defy US ‘paper tiger’ as Beijing invokes Mao — Stoic defiance in ‘trinket town’ echoes Beijing’s insistence that nation can prevail against Donald Trump’s tariff blitz.
- Opinion: Why Xi holds a stronger hand than Trump — The White House has miscalculated the balance of power in its tariff war with China. By Gideon Rachman.
- Opinion: China is well positioned to weather Trump’s trade war — Five years of export controls have helped it get very good at making things without American technology. By Arthur Kroeber.
- Opinion: Europe must choose between America and China — In a multi-polar world, old certainties about the US security guarantee and access to markets no longer hold. By Oren Cass.
- Opinion: What China should do next — To weather Trump’s global storm, Beijing’s economic strategy must evolve. By The Editorial Board.
The New York Times
- Why Europe Fears a Flood of Cheap Goods From China — President Trump’s tariffs on China could lead to a hazardous scenario for European countries: the dumping of artificially cheap products that would undermine local industries.
- Trump’s Tariffs Leave No Safe Harbor for American Importers — For companies that have shifted factory production from China to other countries, the latest tariffs have undermined their strategy while sowing paralysis.
- China Halts Critical Rare Earth Exports as Trade War Intensifies — Beijing has suspended exports of certain rare earth minerals and magnets that are crucial for the world’s car, semiconductor and aerospace industries.
- Hong Kong’s Democratic Party, Once a Formidable Force, to Disband — The party, once the city’s largest opposition force, long championed a moderate approach. It ended up squeezed between a discontented populace and a repressive Beijing.
- A Devastating Trade Spat With China Shows Few Signs of Abating — The Trump administration is in a standoff with the Chinese government as trade tensions escalate, leaving U.S. businesses in the cross hairs.
- Xi Jinping Travels to Southeast Asia Amid Tariff War with U.S. — China’s leader is on a charm offensive in the region, but some of Beijing’s neighbors are wary of being caught in the crossfire of a superpower rivalry.
- How Much Are Tariffs on Chinese Goods? It’s Trickier Than You Think. — The tariff rate on Chinese imports can be as high as 245% or zero, depending on the type of product that is being imported.
- Raise Prices? Eat Higher Costs? Retailers Face Tough Questions. — A trade war with China and tariff threats on other countries are ramping up pressure on stores that sell products from overseas — which, for some categories, is just about all of them.
- Strong Winds Uproot Trees and Rattle Windows in Northern China — Beijing residents were told to stay home, tourist sites were closed and thousands of flights were canceled across the country.
- Trump Showed His Pain Point in His Standoff With China — Xi Jinping, who rules with absolute authority, has shown he is willing to let the Chinese people endure hardship. President Trump revealed he has limits.
Caixin
- Trump’s Tariffs a Mixed Bag for Malaysia’s Chip Sector — The nation’s relatively low levy might give it an advantage over its ASEAN rivals, but trade tensions could ultimately upset its geopolitical balancing act.
- China’s Fast-Growing R&D Budget — China is the world’s second-largest spender, trailing only the United States, which spent nearly twice as much as China in 2022.
- Opinion: China’s Commitment to Opening-Up Will Benefit the World — Multilateralism is the inevitable choice for solving the difficult challenges facing the world and China’s door will only open wider, while policies on utilizing foreign investment remain unchanged. By Caixin.
South China Morning Post
- China launches all-out effort to boost consumption as US trade war boils over — Local authorities roll out more supportive policies as commentators urge officials to ‘strengthen people’s confidence’.
- British anger grows over US tariff blitz: ‘it’s not just affecting China’ — UK public sentiment is turning against America as residents express frustration with being caught in the crossfire of a US-China trade war.
- Chip war: China amends ‘place of origin’ in boost to local semiconductor manufacturers — The China Semiconductor Industry Association clarified that the place of origin for chips is determined by the location of the wafer fabrication plant.
- China’s sci-fi industry shoots for the stars as Beijing pushes ‘quality’ growth — With successes like The Three-Body Problem, the genre has never been more popular – and authorities have taken note.
- Alibaba’s Quark surpasses ByteDance’s Doubao, DeepSeek as China’s top AI app — Quark’s rapid ascent comes as Alibaba has transformed the app from a cloud storage and search service into an ‘AI super assistant’.
Nikkei Asia
- China’s exports smash forecasts ahead of heaviest U.S. tariff hit — March figure up 12.4% but trade war raises pressure to boost domestic consumption.
- China-made Nintendo Switch 2 in line for 145% tariff hit, supplier warns — U.S. exempts smartphones, laptops but not game consoles and smart speakers.
- Australian opposition’s pivot to China tested as May poll nears — Leader drops hawkish rhetoric in attempt to win back Chinese-Australian voters.
- China can flick EU ‘kill switch’ — Europe mulls cyberattack risk — Recent dismantling of U.S. cyber deterrence adds to threats Brussels faces.
- Opinion: Trump is not attempting a ‘reverse Nixon’ — U.S. president seeks to pursue simultaneous engagement with Russia and China — not divide them. By Ali Wyne.
Bloomberg
- Tariff Shock Awaits China After Trade Surplus Hits $103 Billion — The world’s two biggest economies are headed for a divorce that will likely play out for the rest of this year and beyond, after a month that saw a huge spurt in China’s exports and its overall trade surplus hit near $103 billion.
- China Says US Tariff Break a ‘Small Step’ to Fixing Mistake — China’s government said the US decision to exempt certain consumer electronics from its so-called reciprocal tariffs is a small step toward rectifying its wrongdoings and urged Washington to do more to revoke the levies.
- Xi Seeks to Win Over Allies as Trump Pauses Some Tariffs — President Xi Jinping’s first overseas trip of the year was meant to showcase China’s clout in the region. Now, President Donald Trump’s tariff threats have turned it into a push to keep Southeast Asian leaders from cutting deals at Beijing’s expense.
- Opinion: Why Wouldn’t China Weaponize Its $760 Billion Treasury Holdings? — Trump’s tariff U-turn exposed his core weakness. Beijing can easily dent America’s safe-haven status. By Shuli Ren.
- Opinion: Trump Made China His Big Tariff Target. Xi Was Ready. — Beijing has built slack into its economy that can accommodate the supply-side shock. By Brooke Sample.
Reuters
- How China went from courting Trump to ‘never yield’ tariff defiance — Communist Party propaganda officials have played a leading role in framing China’s response, with government spokespeople posting defiant clips on social media featuring former leader Mao Zedong saying “we will never yield.”
- China has considered opening its $520 billion ETF market to Western market makers, sources say — International market makers are more experienced in providing liquidity to ETFs and the move would boost trading efficiency and lower costs.
- Time for the rest of the West to club together — The EU, Japan, Britain, Canada and others need to reduce their dependency on Washington while not becoming reliant on China. That means weaning themselves off the dollar, boosting cooperation in trade and defence, and reaching out to emerging economies such as India.
Other Publications
- Foreign Affairs: How Trump’s Coercion Could Backfire in Asia — Forcing the Region to Choose Sides Risks Pushing It Toward China.
- POLITICO: Hegseth on countering China: ‘We’ve been sort of asleep at the wheel’ — He alleged that China has an interest in controlling the Panama Canal.
- POLITICO: Forget tariffs — Beijing is already choking off US exports on the sly — China juices trade war with nontariff barriers targeting MAGA-friendly U.S. export sectors.
- The Washington Post: U.S., China barrel toward the bottom in escalating trade war — The world’s superpowers are closer to a full economic break than ever before, as President Donald Trump and Chinese leader Xi Jinping refuse to back down.
- The Washington Post: China, where fat equals rich, tries to tackle a growing obesity crisis — With more than half of Chinese adults now classified as overweight, health authorities are stepping up measures to get people to literally tighten their belts.
- The Atlantic: Trump’s Trade War Handed China a Strategic Advantage — The president signaled that the U.S. doesn’t care about its allies and trading partners—including Taiwan.
- Rest of World: DeepSeek and chip bans have supercharged AI innovation in China — Investors believe practical AI applications will fuel the next wave of growth, with startups building on top of DeepSeek’s foundation.
- Los Angeles Times: The first trade war with China was a boon for Vietnam — what about now? — During Trump’s first term, tariffs on China were a big win for Vietnam, especially in cities like Haiphong. Now the country’s future isn’t so clear.
- The Guardian: ‘Invasion’ barges, subsea cable cutters and surprise naval drills: how China is testing Donald Trump — China has been flexing its maritime muscle in the Indo-Pacific – moves that pose a challenge for the US president.
- BBC: Was China the reason Guyana faced higher Trump tariff? — Following Trump’s change in policy, it now faces tariffs of only 10% – the same as all countries apart from Canada, China and Mexico. But why had Guyana been facing a higher levy in the first place?
