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
- Automakers Race to Find Workaround to China’s Stranglehold on Rare Earth Magnets — Major manufacturers, fearful they will have to shut down assembly lines, consider moving some parts production to China.
- NIO’s Net Loss Widens Amid Highly Competitive Chinese EV Market — Fierce competition in China’s EV market is only expected to continue after BYD offered steep discounts recently, prompting some rivals to follow suit.
The Financial Times
- Trump says China’s Xi is ‘hard to make a deal with’ — Ties are strained over slow approval of export controls for rare earths.
- Chinese couple charged with attempt to smuggle noxious fungus into US — Case comes as Washington continues to focus on national security risks stemming from Beijing.
- Opinion: CK Hutchison’s problem ports show limits to its dealmaking style — Proof of a renewed appetite for dealmaking could help the Hong Kong conglomerate realise value trapped in its other divisions. By Lex.
The New York Times
- U.S.-China Trade War Morphs From Tariffs Into Fight Over Supply Chain — Instead of battling over tariffs, Washington and Beijing have turned to a potentially far more harmful strategy: flexing their control over global supply chains.
- U.S. Charges 2 Chinese Students With Smuggling Fungus — An arrest by the F.B.I. comes as the Trump administration has promised to crack down on Chinese academics.
- What to Know About China’s Halt of Rare Earth Exports — Since early April, China has stopped almost all shipments of critical minerals that are needed for cars, robots, wind turbines, jet fighters and other technologies.
- China Really Wants to Attract Talented Scientists. Trump Just Helped. — Even before the U.S. threatened to bar international students and besieged universities, China’s huge spending campaign on the sciences was bearing fruit.
Caixin
- Everbright Stock Soars on Circle IPO as Stablecoins Excite Investors — Everbright’s 10-year wait for windfall pays off as Circle IPO generates excitement.
- China’s Industrial Drive Into Indonesia Runs Into a Personnel Shortage — Companies are training staff from engineers to truck drivers amid a push into the local mineral and manufacturing sectors.
- Maersk Rethinks China Strategy as Shipping Rates Pitch Wildly — Danish giant plans to integrate its logistics, shipping and terminal services, while launching new air cargo routes.
South China Morning Post
- China’s agritech brings water to Egypt’s giant beet sugar factory in Sahara Desert — Chinese technical expertise drives recent investments across Middle East, as regional economies look to diversify, analysts say.
- EU industry could grind to a halt over China’s rare earth restrictions — Influential European lobby group says it senses Beijing is overwhelmed with applications to export the highly sought-after minerals.
- French cognac businesses hopeful ‘positive’ China talks could roll back tariffs — Beijing hit EU brandy with duties after the bloc targeted made-in-China EVs, but industry insiders are now optimistic about resolution.
Nikkei Asia
- Pentagon taps China expert John Noh as Indo-Pacific point person — Aides to Elbridge Colby fill key positions with eye on Beijing threat.
- Chinese electric truck maker Windrose rolls into U.S. through Trump fog — Founder shrugs off tariffs, geopolitical scrutiny and U.S. pivot from clean energy.
- China’s H World to add 9,000 hotels by 2030 in budget travel push — Company aims to ‘absolutely dominate’ the limited-service segment, says executive.
- Instant noodle maker Nissin wants to feed China’s EV, chip hubs — Japanese company eyes inland areas with growing industries.
- Dogged activism keeps Tiananmen flame burning 36 years on — World marks crackdown anniversary as China maintains tight grip on Hong Kong.
Bloomberg
- Huawei’s Pura X Is An Intriguing New Foldable — If You’re Outside the U.S. — The clamshell device is the company’s first flagship phone to launch with its new operating system to challenge iOS and Android.
Reuters
- Global alarms rise as China’s critical mineral export curbs take hold — China sees its dominance of the critical mineral industry as leverage in its ongoing trade war with the U.S.
- Exclusive: Trump set to waive some legal requirements to boost critical minerals — The move would represent the latest attempt by the White House to reshape a critical mineral industry dominated by China.
- Exclusive: Germany lobby group says China’s rare earth curbs could halt auto output — The comments mark the first time the lobby group has said output was at risk of being halted as a result of China’s decision to limit exports of rare earth magnets.
- Vanguard new ex-China ETF followed push from Missouri Republicans — Missouri’s Treasurer told Reuters the announcement came six weeks after a series of requests and meetings with Vanguard.
Other Publications
- Foreign Policy: Trump’s Student Visa Crackdown Could Be a Boon for China — Beijing has long been eager to woo back top tech and AI talent.
- Nature: ‘You’re just not welcome’: researchers grapple with U.S. plan to revoke Chinese student visas — Scientists are eyeing their legal options in anticipation of new immigration actions.
