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
- Trump Turns Screws on China, Leaves Door Open to Deals With Other Countries — Administration sent conflicting messages, but president rules out a broad pause.
- China’s Biotech Advances Threaten U.S. Dominance, Warns Congressional Report — Commission urges U.S. to invest at least $15 billion in biotech research and other measures, and to bar work with Chinese firms that pose national-security risk.
- Many U.S. Companies Plan to Keep China Ties, Survey Finds — But report shows many firms also see China as a geopolitical risk.
- EU Chief and Chinese Premier Discuss Potential Oversupply of Goods — The EU, also dealing with Chinese trade tensions, is reeling from fresh tariffs President Trump imposed on goods coming from the bloc last week.
- Apple Plans to Source More iPhones From India as Potential Tariff Fix — Levies on Chinese goods have created worst three-day rout for iPhone maker in about 25 years.
- Porsche AG Deliveries Fall on China and Europe Headwinds — Deliveries in North America rose 37%, but were down 10% in Europe and 42% in China.
- China Eases Grip on Yuan With Fixing Past 7.2 to the Dollar — The reference rate breached 7.20 for the first time since September 2023.
The Financial Times
- China vows ‘fight to the end’ after Trump threatens extra 50% tariff — Beijing and Washington swap warnings of additional trade retaliation as markets rebound in Asia
- Trump threatens extra 50% tariff on China in day of wild market swings — U.S. president sticks with plan to ‘reset’ global trade but sends mixed signals about negotiations
- EU calls for ‘negotiated resolution’ with China in face of US tariffs — Von der Leyen warns against diversion of Chinese exports to Europe in call with China’s premier.
- China offers first hint of devaluation with weak renminbi fix — Beijing permits exchange rate to drop below long-defended level.
- China puts pressure on western producers of electric car battery materials — Industry vital for energy transition is ripe for consolidation as fierce competition unsettles market.
- Opinion: Donald Trump’s tariffs will fix a broken system — Next we must tackle the barrage of non-tariff weapons used to strangle American exports. By Peter Navarro.
The New York Times
- How Trump’s TikTok Negotiations Were Upended by China and Tariffs — The future of the popular video app is now at the center of a geopolitical tussle between Washington and Beijing.
- Trump Says No Pause to Tariffs as He Targets China for Retaliation — The president said he would counter Beijing’s tariffs, which came in response to Mr. Trump’s own levies, with even more tariffs on Chinese imports.
- China Accuses U.S. of Blackmail After Trump Threatens More Tariffs — China sees little to gain in capitulating to President Trump’s tariff threats, labeling them “blackmail” and vowing to “fight to the end.”
- Opinion: How Trump’s Tariffs Play Right Into China’s Hands — Instead of making our strategy America against the whole world on tariffs, Trump should have made it all the industrial democracies, led by America, against China. By Thomas L. Friedman.
Caixin
- China’s Export Machine Stalls Under Trump’s New Trade Blitz — Chinese companies scramble for survival strategies as U.S. tariffs shatter supply chains.
- U.S. Tariffs Make Chinese Auto Stocks Nosedive, but Analysts More Sanguine — Analysts say impact of US tariffs on China’s automakers is manageable.
- Huawei Expands EV Push With Dongfeng Motor Tie-Up — The companies have set up a new unit and will soon launch an electric car brand, source says.
- For Laopu Gold, the Jewelry Isn’t the Only Thing That’s Expensive — The retail upstart’s soaring stock price gives the Chinese company a trailing price-to-earnings ratio multiple times that of LVMH, owner of luxury brands Cartier and Tiffany & Co.
South China Morning Post
- Chinese factories in Vietnam hammered by U.S. tariffs: ‘where can I go now?’ — Chinese exporters flocked to Vietnam to avoid U.S. tariffs aimed at China, but Vietnam is now also facing a steep rise in duties.
- Is Trump’s ‘Liberation Day’ opening the door to China to join the CPTPP? — Members of the trans-Pacific trade bloc may be more inclined to allow China to join as they look to counter US tariff threats, analysts say.
- Why China is struggling to convince consumers to borrow: ‘I’m not attracted’ — Beijing is offering easier access to credit in a bid to boost consumption, but households are reluctant to take on debt amid a global trade war.
Nikkei Asia
- COMAC delivers China-made C909 jet to Lao Airlines — Company touts shipment to 2nd foreign carrier as ‘new step’ in commercial aviation.
- Chinese companies rush to serve up sunny news in rocky markets — Hong Kong’s dismal Monday followed by spate of share buybacks, positive disclosures.
- Opinion: China’s consumption tax reform is a race against time — Hidden local government debt may be close to half of China’s GDP. By David Tingxuan Zhang.
Bloomberg
- Trump’s Tariffs and China Collide to Shock the $115 Trillion Global Economy — Investors the world over are trying to reprice risk in an age of uncertainty inflamed by dueling US and Chinese visions for the future.
- Key Brazil Port Bustles as China Poised to Shift Away From U.S. — The gains highlight how quickly other nations can seize opportunities as the U.S. and China become embroiled in a confrontation over trade.
- China Urges Shein to Halt Supply-Chain Shift After Tariffs — The threat of job losses associated with production moving overseas has made it a substantial concern for Chinese officials.
Reuters
- Limited options push China into trade ‘war of attrition’ with Trump — China will court other markets in Asia, Europe and the rest of the world, but this may not be much of an escape valve.
- China sticks to its guns as fresh U.S. tariff threat pushes tensions to the brink — Beijing is under pressure to respond as President Xi Jinping prepares to meet Spain’s prime minister, and begin a tour of Southeast Asia.
- ‘It’s like throwing darts blindfolded’; tariffs take toll on Chinese exporters — World-wide tariffs strike Chinese exporters’ two main strategies to blunt the impact of the trade war: moving some production abroad and increasing sales to non-U.S. markets.
Other Publications
- Rest of World: iPhones were already losing ground in China. Then came Trump’s tariffs — Consumers ditch Apple for more advanced features and to support Chinese brands.
- The Washington Post: As Trump vows even more tariffs, China thinks it has the upper hand — As markets fall and support for Trump’s approach crumbles, Beijing is showing no sign of buckling. But with its own weak economy, it also has a lot to lose.
- CFR: Trump’s “Liberation” Hastens China’s Domination — Trump’s tariffs are setting up China to play the hero for many small economies, writes Jonathan Hillman.
