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
- The Rest of the World Is Bracing for a Flood of Cheap Chinese Goods — President Trump’s ‘Liberation Day’ tariffs risk a domino effect across the globe as Chinese goods look for new markets.
- Toy Stocks Tank as Tariffs Target Key Manufacturing Sites — Mattel and Hasbro are facing tariffs on countries where they source their toys after reducing reliance on China where approximately 80% of all toys are manufactured.
The Financial Times
- China announces 34% retaliatory tariffs on US imports — Move towards full-blown trade war comes in response to levies imposed by Donald Trump.
- Europe braces for flood of Chinese goods after US tariffs — EU officials ready emergency measures to prevent onslaught of discounted products in ‘economic nightmare’.
- PwC China plans to spin off cyber security arm — Partner-led buyout would improve liquidity and mark strategic pivot away from consulting.
- Fitch downgrades China’s sovereign debt over spending and tariffs — Beijing denounces ‘biased’ move by rating agency, insisting country’s economic foundations are stable.
- Sweeping tariffs threaten ‘Factory Asia’ — Trump administration’s moves put ‘China plus one’ manufacturing strategy at risk.
- China ‘optimistic’ about deeper UK financial co-operation — Vice-minister Liao Min speaking as renminbi green bond launched in London.
- Trump’s trade onslaught imperils chance of China ‘grand bargain’ — ‘Hard decoupling’ between world’s two largest economies could derail negotiations covering TikTok.
The New York Times
- What Will Trump’s Tariffs Do to EU-China Trade Relations? — The European Union is deepening other trade partnerships as U.S. relations sour. But with China, the relationship could get closer — or more combative.
- Trump’s Trade War Escalates as China Retaliates With 34% Tariffs — The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.
- Trump Blocked America’s Front Door to China. Now He’s Closing Back Doors. — The U.S. tariffs on transshipment countries like Vietnam and Cambodia are so steep that they could force a major reassessment of global supply chains.
- Trump’s Threatened Tariff on Buyers of Venezuelan Oil Could Squeeze China — Venezuela owes China’s banks about $10 billion, and its oil is about the only legal way it has to pay them back.
- Lawsuit Challenges Trump’s Legal Rationale for Tariffs on China — A nonprofit group said the president misapplied a law in imposing those levies and portrayed its filing as the first lawsuit to challenge the Trump administration over its tariffs.
- Trump’s De Minimis Order Could Raise Costs on Clothes and Goods From China — The loophole has allowed retailers to send goods from China directly to U.S. shoppers without paying tariffs. Closing it could raise consumer prices.
Caixin
- How One Acre in Shanghai Sparked a 20-Year Legal Battle — Entrepreneur Liu Jianshe acquired land rights in Shanghai in 2002 but faced financial issues, leading to a complex partnership, loan agreements.
- Shippers Brace for Tariff Shockwaves as China-U.S. Cargo Rush Fades — After a late 2024 rush to front-load cargo in anticipation of U.S. tariffs, shipments between China and the U.S. are now cooling rapidly.
- Chinese Exporters Founder Amid Rising U.S. Tariffs — The Trump administration’s new 34% levy on imports from China are a crushing blow for manufacturers still struggling to absorb the cost of existing duties.
South China Morning Post
- World’s first 1-nanometre RISC-V chip made in China with 2D materials — China’s chip industry has reached a major milestone after scientists developed the world’s most complex semiconductor microprocessor.
- US influencer IShowSpeed’s view of China makes him accidental ambassador — The 20-year-old’s live streaming videos of his tour of Chinese cities win praise from analysts and government officials.
- Zhihu, a Quora-like Q&A platform, bets on AI search to become China’s X and LinkedIn — ‘In the era of AI, the influence of high-quality content will only grow,’ finance chief Wang Han says in an interview with the Post.
Nikkei Asia
- China’s BGI Genomics loses access to Microsoft’s office software — U.S. tech giant’s license with Huawei recently lapsed.
- China’s CNOOC sells off U.S. oil and gas interests in Gulf of Mexico — Company cites uncertainty as it moves to cut risk.
- China-leased Port of Darwin to return to ‘Australian hands’: Albanese — As election looms, rival parties align on control of key infrastructure.
Bloomberg
- US Satellites Risk Attack in a War With China, Space Chief Says — Beijing’s ambitions in space pose “an incredible threat,” targeting satellites as first to be shot down in any conflict between the US and China, the head of the US Space Force warned Thursday.
- China, US Make First-Known Military Contact Since Trump’s Inauguration — Chinese and US defense officials had their first known formal contact since Donald Trump returned to the White House, in a meeting that partially coincided with Beijing conducting large-scale military drills around Taiwan.
- Opinion: Ming China, and Its Lessons for Trump’s Trade War — If you want America to be great again, a retreat into isolationism is the worst path to follow. Just look at history. By David Fickling.
Reuters
- One Beijing man’s quest to keep cooking – and connecting with Americans – on camera — When more than half a million Americans downloaded RedNote earlier this year, days before a proposed U.S. ban on the popular Chinese social media app TikTok, Yu saw an opportunity to turn his small kitchen into a studio.
- Investors react to China’s retaliatory tariffs on US goods — China announced additional tariffs of 34% on U.S. goods on Friday, upping the ante in a global trade war after President Donald Trump’s sweeping tariffs this week.
- Stocks plunge again after Trump tariff rout as China retaliates — “If the current slate of tariffs holds, a Q2 or Q3 recession is very possible, as is a bear market,” said David Bahnsen, chief investment officer at The Bahnsen Group.
Other Publications
- Foreign Policy: Trump Tariffs Target Both China and U.S. Allies in Asia — The move is a blow to China, but it could also harm U.S. interests in the region.
- Foreign Affairs: China and Russia Will Not Be Split — The “Reverse Kissinger” Delusion.
- The Washington Post: After Trump tariffs, China offers ‘trauma bonding’ with U.S. partners — As countries around the world reel from the U.S. tariffs, Beijing has been quick to try to capitalize on the upheaval and extend its influence — economic and otherwise.
- POLITICO: Trump’s China ambassador pick gets kid-glove treatment on Capitol Hill — The Senate Foreign Relations Committee confirmation hearing didn’t touch on David Perdue’s past positions on trade, outsourcing and human rights.
- The Economist: China has a thriving black market for personal data — The surveillance state is good at collecting information but bad at keeping it safe.
- Rest of World: Argentina lifts tariffs on EVs, pitting local favorites against cheap Chinese imports — As the country lifts tariffs on EVs, Argentines are likely to buy cheaper Chinese brands, potentially stifling the homegrown industry.
- BBC: Prince Andrew and alleged Chinese spy prepare for more court disclosures — The court papers about Yang Tengbo’s alleged activities in the UK are becoming public after a legal battle, including other media outlets, for more transparency in the semi-secret case.
