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
- TikTok Fined $600 Million in Europe Over China Surveillance Risks — Irish privacy watchdog says app failed to protect user data sent to China.
- China Signals Readiness to Respond to U.S. Trade Overtures — Beijing again seeks an end to President Trump’s tariffs and calls for “sincerity.”
- Trade War Exposes China’s Dependence on U.S. for Auto Chips — Certain American chips are essential for cars and other industrial goods made in China—a vulnerability revealed in tariff exemptions pushed by Beijing.
- Opinion: Why China Could Win Trump’s Trade War — Beijing probably can keep its economy afloat until the U.S. midterm—which is likely all it needs. By Joseph C. Sternberg.
The Financial Times
- Temu abandons Chinese imports to US as tariffs force overhaul — Ecommerce company to source all US products from local merchants as ‘de minimis’ tax loophole closed.
- TikTok fined €530mn for sending EU user data to China — Social media group hit by one of the biggest financial penalties ever issued by Ireland’s data protection watchdog.
- How China is quietly diversifying from US Treasuries — As investors become increasingly anxious about US government bonds, Chinese officials are looking for ways to reduce their exposure.
- CIA looks to recruit new Chinese spies with social media videos — US intelligence agency seeks to woo prospective assets with the offer of ‘a better life’.
The New York Times
- TikTok Fined $600 Million for Sending European User Data to China — Irish investigators said TikTok did not protect the data of users in the European Union, improperly transferring some of it to China. TikTok said it would appeal.
- Companies Are Raising Prices as Tariffs Hit — President Trump’s trade policies are already starting to frustrate American consumers who have noticed higher prices in their shopping carts.
- China Is Considering Trade Talks With U.S., but It Has Conditions — Despite mounting financial pressure, China says it won’t negotiate until the Trump administration shows “sincerity” by canceling tariffs on its goods.
- What a Disappearing Tariff Loophole Could Mean for Your Next Online Order — An exemption that allowed cheap Chinese goods to enter the United States duty free was eliminated on Friday, which could lead to higher prices and delays on purchases.
- How a U.S. Tax Loophole Supercharged China’s Exports — E-commerce trade in small parcels brought Chinese factories to American shoppers. Tariffs are severing the connection.
- Apple’s Quarterly Earnings Tops Wall Street Expectations With $24.78 Billion Profit — Tim Cook, the company’s C.E.O., said he expected $900 million in extra costs this quarter because of President Trump’s tariffs.
- Opinion: Trump Is Silencing Radio Free Asia. Now China Doesn’t Have To. — The U.S. government’s dismantling of Radio Free Asia means giving Beijing’s propaganda free rein. By Bay Fang.
Caixin
- Trump’s Tariffs Are the Talk of the Canton Fair — Vendors at China’s premiere trade expo have come to the conclusion that the U.S. levies will have to be paid, one way or another.
South China Morning Post
- China taps private sector for sci-tech leaders in expanded academic recruitment drive — In biggest hiring spree in a decade, state academies open more doors to innovators, foreign academics, with less attention to seniority or titles.
- How did China’s 5-year plans deliver an economic miracle and what’s next? — The national strategic blueprint has evolved from its roots in a Soviet-style planned economy to today’s more responsive model.
- Chinese firms in Vietnam halt new investment, face closure if Trump’s tariffs return — Many factories have already cancelled orders and scrapped expansion plans despite the US pausing its ‘reciprocal’ duties for 90 days.
- China’s Labour Day travel boom bodes well for spending, but box office fizzles — Visa-free entries and generous tax refunds for inbound travellers are helping to shore up tourism at a time when the economy needs a jolt.
- Opinion: US tariffs a wake-up call for China to improve labour standards — If China’s export competitiveness remains reliant on lowering its labour standards, the US and others will continue their trade-restrictive policies. By Li Qiang.
Nikkei Asia
- Yuan hits 10-year low against euro, threatening trade tensions — Depreciated currency could trigger inflow of low-cost Chinese imports into Europe.
- China-linked group accused of meddling in Australia election — Canberra’s election watchdog has pledged to investigate online video.
- China powers forward in hydrogen patents, outcompeting Japan — Investment spikes after Beijing labeled hydrogen a key energy source.
- UK MP barred from Hong Kong urges reciprocal ban on China politicians — Citing British Steel, Hobhouse says London must publish risks of trading with China.
- US tariffs force China’s e-retailers to revamp overseas sales model — End of ‘de minimis’ import duty exemption a heavy blow for Chinese vendors.
Bloomberg
- China Hints at Possible Thaw With US in Evaluating Trade Talks — The statement signaled the stalemate between the world’s two largest economies could shift.
- US Factories That Need Machinery From China Are Playing the Tariff Waiting Game — Almost as swiftly as he has erected his tariff wall around the US over the past 100 days, President Donald Trump has issued exemptions for a select but growing family of products like auto parts and smartphones.
- Opinion: China’s Robot Craze Has Found Its Purpose — Beijing has heavily hyped the march of the machines. Now it’s mission critical. By Catherine Thorbecke.
Reuters
- US blacklist on China is riddled with errors and outdated details — A Reuters review of almost 100 Chinese and Hong Kong companies added to the U.S. entity list in 2023 and 2024 found more than a quarter contained erroneous details, such as incorrect names and addresses and outdated information.
- Taiwan to mark World War Two end in history narrative battle with China — Taiwan has since the start of this year sought to cast the war as a lesson to China in why aggression will end in failure, and take back the narrative from Beijing that it was not communist forces who took victory.
- China low-value package tariff exemption ends but questions remain over US collections — A USPS spokesperson said, airlines and vessel operators would need to work with shippers and Chinese postal authorities to pay the import taxes and show proof before the goods are transported out of China or Hong Kong.
Other Publications
- Foreign Policy: Trump Should Rein In Taiwan — President Lai Ching-te’s rhetoric increases the risk of war with China.
- Foreign Affairs: Will China Escalate? — Despite Short-Term Stability, the Risk of Military Crisis Is Rising.
- Barron’s: Opinion: Chinese Stocks Look Like an Opportunity Amid Trump’s Tariff Chaos — Once deemed ‘uninvestible,’ China’s markets are now starting to converge with the U.S.. By Eric Wong.
- POLITICO: Trump’s tariffs have shaken Wall Street. Now they’re hitting packages. — Low-value packages from China will now be hit with a tariff. It’ll hurt online shoppers who have been increasingly drawn to cheap goods.
- The Washington Post: Opinion: Have we thought through how this trade war with China ends? — The cost of decoupling from China might be decline, disorder — or worse. By Fareed Zakaria.
- The Economist: Is China justified in still calling itself a developing country? — The reasons are more about self-image than money.
- Brookings: Can studying in the US survive geopolitics? — What’s at risk is not just enrollment numbers or university budgets—it’s the future of American innovation and the country’s standing in the world.
