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. House Committee Urges Two U.S. Banks to Withdraw From CATL’s Listing — CATL supplies batteries to automakers such as Tesla and Volkswagen.
- Chinese Premier Urges Officials to Think Outside the Box as Tariffs Bite — U.S. President Trump earlier said he is in touch with the “highest levels” of the Chinese government.
- Apple Loses Ground in China’s Smartphone Market as Local Rivals Gain — The U.S. tech giant dropped to fifth place with a 13.7% market share.
- The U.S. Exports a Lot of Stuff to China. Here’s a Breakdown. — Trade wars threaten to crimp demand for American energy, agricultural products.
- How China’s Boeing Ban Threatens to Backfire on Its Own Plane Maker — Upstart Comac is dependent on U.S. technology and has few planes in the air.
- Americans Worry Over Negative Impact of China Tariffs — Respondents in survey see trade as unbalanced, but are divided over the merit of increasing levies.
- U.S. Moves Ahead With Plan to Charge Fees on Chinese Ships — Trade representative plans to charge ships for each voyage, not for each U.S. port call, following industry pushback.
- How Nvidia Plays Export Whack-a-Mole — As U.S. steps up chip-export restrictions, Nvidia maintains a China presence by making versions of its powerful processors that qualify for sale there.
- Opinion: To Counter China in Southeast Asia, Take Indonesia Seriously — Putin and Xi are wooing the world’s fourth-largest nation with military and economic promises. By Greg Sheridan.
- Opinion: Now Trump Wants a Shipping Tax — ‘If this happens, we’re out of business,’ says one shipping CEO. By The Editorial Board.
- Opinion: The Bitter Pill of Reliance of China — Nearly half of generic active pharmaceutical ingredients consumed in the U.S. originate there. By Shyam Sankar and Julia Dimon.
The Financial Times
- US says Chinese company is helping Houthis target American warships — Satellite group linked to People’s Liberation Army has supplied images to Iran-backed group in Yemen, say officials.
- Trump administration set to impose steep fees on Chinese ships — Beijing warns planned US port charges will drive up shipping costs and disrupt supply chains.
- House China panel head urges JPMorgan and BofA to halt work on CATL IPO — John Moolenaar warns banks of ‘regulatory, financial and reputational risks’ for working on deal.
- China stops buying liquefied gas from US — Standstill shows how Sino-American trade war has spilled into energy sector.
- Trump’s tariffs unravel US supply chains at China’s export showcase — Buyers and sellers at Canton trade fair search for ways to evade levies as goods pile up in warehouses.
- US rare earth champion faces trade war test after tariffs halt China sales — MP Materials has been sending concentrates to Chinese partner as it races to expand in US.
- UK bans EVs from some military bases over Chinese spy fears — Concerns that sensors in electric vehicles could be used to gather intelligence.
- Opinion: Tariffs ignore the reality of global tech supply chains — Nvidia has become a symbol of the looming business nightmare unleashed by Donald Trump. By Gillian Tett.
The New York Times
- U.S. Gas Exports to China Stopped After Beijing Imposed Tariffs — The United States accounted for only 3 percent of China’s natural gas imports last year. Those purchases could now dry up entirely in the trade war.
- China-Built Airport in Nepal Was Littered With Corruption, Inquiry Finds — A Nepali investigation blamed lawmakers and officials for looking the other way. The $216 million airport receives only one international flight a week.
- Cambodia and China Strengthen Ties as US Imposes Tariffs — China is the biggest foreign patron of Cambodia, where Mr. Xi concluded a tour of Southeast Asia. But the region also needs to curry favor with President Trump.
Caixin
- China Needs Long-Term Solutions to Counter Trade War — Sustainable ways to grow domestic consumption include more fiscal spending on social security, urbanization and raising incomes, says Shen Jianguang, chief economist at JD.com’s digital technology subsidiary.
- XPeng Doesn’t Want to Be Seen Overseas as a Cheap Chinese Car Brand — The EV upstart is trying to position itself as a mid-to-high-end brand overseas by ‘leveraging its expertise,’ CEO says.
- Planes Become Latest Front in China-U.S. Trade War — As tariffs escalate, Chinese airlines delay deliveries from American aircraft-maker Boeing, breeding uncertainty in the industry.
South China Morning Post
- What would it take to get China and the US to have trade talks? — Donald Trump says discussions are already under way, but there are few signs of a deal in making.
- As trade war heats up, China’s premier wants focus on positive market expectations — Li Qiang tells State Council study session in Beijing that market economy is ‘largely an expectation economy’.
- China’s PLA invited to Vietnam military parade as both sides pledge closer defence ties — Invite comes as Chinese Defence Minister Dong Jun meets Vietnamese counterpart Phan Van Giang days after state visit by President Xi.
- Myanmar earthquake may have disrupted China’s rare earth supplies, analysts say — The disaster may have damaged mines and transport routes in Myanmar, which is China’s main supplier of rare earth elements, analysts say.
- Tencent offers 28,000 internships as China grapples with youth unemployment — With 12 million fresh graduates entering the job market this summer, Chinese Big Tech companies are ramping up their recruitment efforts.
Nikkei Asia
- How China-linked front companies dodge U.S. tariffs — Strategy complicates task of collecting Trump administration’s promised trillions.
- Southeast Asian nations face ‘recalibration’ challenge after Xi tour — As Pax Americana ends, China moves swiftly to fill regional void.
- Trump administration unveils phased fees on China-built ships, operators — USTR offers exemptions if companies order vessels from U.S. within 3 years.
- China’s EHang to launch air taxi service this year — First-of-its-kind operation accelerates competition in growing industry.
- LVMH, Pernod, other French names in direct fire of U.S.-China trade war — Trump tariffs add to woes, but Japan and super-high-end markets offer some hope.
Bloomberg
- COP30 President Expects China to Set ‘Ambitious’ Climate Targets — After a week of meetings in Beijing, the man running global climate negotiations this year says he expects China to set ambitious targets and help contribute to a successful summit even after the US abandoned the process.
- Fewer Americans Consider China an Enemy During Trump’s Trade War — Fewer Americans are viewing China as an enemy, according to a survey by Pew Research Center, a sentiment that runs counter to the tariff war instigated by Donald Trump.
- Zelenskiy Accuses China of Supplying Russia With Weapons — Ukrainian President Volodymyr Zelenskiy accused China of supplying weapons to Russia in its war against his country, saying he would present detailed evidence next week.
Reuters
- In US Chinatowns, merchants ‘don’t want the trade war to be a war’ — While Trump paused his tariffs on most of the world for 90 days, his tit-for-tat trade war with China has resulted in a steep 145% tariff on Chinese goods, and that’s hitting mostly family-owned small businesses in Chinatown hard.
Other Publications
- Foreign Affairs: What America Gets Wrong About the AI Race — For several years now, the United States has been locked in an intensifying race with China to develop advanced artificial intelligence.
- The Washington Post: China’s restrictions on rare earths could hurt U.S. health care — As the trade war worsens, Beijing has banned the export of critical minerals used in the defense industry — but also for some cancer treatments and MRI exams.
- CSIS: Winning the Tech Race with China Requires More than Restrictions — If America wants to maintain its edge over China, the answer isn’t more barriers—it’s building more bridges.
- Rest of World: Why Vietnam is in the middle of the U.S.-China trade war — The Southeast Asian nation has emerged as a promising alternative for tech suppliers diversifying from China, but that comes with risks.
- The Guardian: Uyghur rights group calls on hotel chains not to ‘sanitise’ China abuses in Xinjiang — Growth in international hotels coincides with government effort to push region as a tourism destination.
- BBC: Trump’s tariffs leave China’s neighbours with an impossible choice — The Association of Southeast Asian Nations (Asean) has ruled out retaliation against Trump’s tariffs, instead choosing to emphasise their economic and political importance to the US.
