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
- China Accuses U.S. Spy Agency of Winter Games Cyberattacks — While the two superpowers are locked in a trade standoff, Beijing is growing increasingly aggressive in pushing back in other ways against perceived efforts to prevent China’s rise.
- Trump’s Trade War Deepens Threat to U.S. Brands in China — The tariff fight is deepening Chinese consumers’ preference for domestic goods.
- China’s Port Cargos Start to Slow as Tariff Tensions Escalate — The cargo handled by ports across China over the April 7-13 period tumbled 9.7% from the week before.
- Opinion: Xi Jinping’s Anti-Tariff Tour — China’s president is courting U.S. trade partners in Asia. By The Editorial Board.
The Financial Times
- Xi urges Vietnam to oppose Trump’s tariff ‘bullying’ — US president says countries are trying to ‘screw’ America as China looks to shore up ties with trade partners.
- Trade, tech and Treasuries: China holds cards in US tariff stand-off — Planning, diversified markets and control of strategic materials potentially give Beijing leverage — if it can bear the pain.
- Trump official tells Europe to choose US or Chinese tech — FCC chair Brendan Carr urges ‘western allies’ to pick Elon Musk’s Starlink satellite internet company.
The New York Times
- Home Décor Retailers Brace for Tariffs — Consumers may be unwilling to pay more for pottery, pillows and the other stuff that makes homes feel homey, leaving home décor store owners worried.
- A Crisis at a British Steel Mill Has Cast a Shadow Over U.K.-China Relations — Britain was edging closer to China, but a dispute at a Chinese-owned steel company in the U.K. may prompt a rethink.
- Trump’s Trade War With China Could Be Good for India. But Is It Ready? — While India dreams of becoming a new factory to the world, its manufacturers are struggling to find skilled workers, secure components and overcome red tape.
- What Are Rare Earth Metals, the Exports Halted by China? — China’s new restrictions on exports of the metals could have an impact on the production of everything from LED lights to fighter jets.
- Trump’s Dilemma: A Trade War That Threatens Every Other Negotiation With China — President Trump is staking everything on winning by imposing tariffs on China. But the fight threatens to choke off negotiations about other issues like Taiwan, fentanyl, TikTok and more.
- No Jail Time for Queens Man Convicted of Spying for China — Shujun Wang worked for a pro-democracy organization while passing information about dissidents to China, prosecutors said. He was sentenced to three years of supervised release.
- China’s Halt of Critical Minerals Poses Risk for U.S. Military Programs — The Pentagon and defense contractors are heavily reliant on magnets and rare earth minerals mined or processed in China, which has suspended exports of the materials in an escalating trade war.
- Trump Moves to Put New Tariffs on Computer Chips and Drugs — Citing a national security statute, the administration has begun a process to investigate the impact of imported semiconductors and pharmaceuticals.
- Opinion: Tom Friedman Thinks We’re Getting China Dangerously Wrong — The Times Opinion columnist discusses what he thinks Trump — and American policymakers — misunderstand about China in the escalating trade war. By Tom Friedman.
Caixin
- Chinese Wearable Tech Firms Explore Overseas Production as U.S. Tariffs Soar — Smart glasses manufacturer says of the pressure from U.S tariffs: ‘In this environment, no one wins’.
- Chinese Exporters Look to Go ‘Gray’ to Circumvent Trump Tariffs — Goods could be routed through third countries to secure lower levy rates while U.S. importers leverage customs clearance connections to avoid paying.
South China Morning Post
- China’s EV battery king CATL joins with Sinopec to build swapping-station network — World’s top maker of EV batteries and oil giant aim to build a ‘battery-swapping ecosystem across the whole nation’.
- China frets about its dependence on Africa’s resources as US muscles in — China has heavily invested to secure raw materials from African nations, but US accusations over those deals pose new risks.
- Chinese factories in Vietnam see ‘crazy’ surge in orders amid US tariff pause — US businesses are putting factories in Vietnam under pressure to front-load as many shipments as possible within the 90-day window.
- Alibaba steps up AI adoption in auto industry with Nio, BMW deals — The Nio collaboration reflects the progress Alibaba has made in commercialising AI technologies in the car industry.
- Opinion: Trump chaos is lending weight to Xi’s prophecy of ‘profound changes unseen in a century’ — First mentioned in 2017 and dismissed by many as rhetoric, one expert says it now truly feels like the world is undergoing a major shift. By Shi Jiangtao.
Nikkei Asia
- Canton Fair, China’s biggest trade fest, draws crowds of non-U.S. buyers — Record 30,000 exporters court 200,000 customers in test of trade war resilience.
- Pakistan names controversial Binance founder as crypto adviser — Anti-money laundering watchdog likely to scrutinize Zhao appointment, experts say.
- Chinese students sue to restore U.S. immigration status — Wave of visa revocations nationwide is “un-American,” lawyer says.
- Chinese baby formula giant Yili aims to attract parents-to-be with cash — $220 handout to couples spurs race for customer loyalty with rival Feihe.
- China authorities rush to improve conditions for delivery workers — Meituan and peers pressured to address long hours, unstable pay for drivers.
Bloomberg
- China Orders Boeing Jet Delivery Halt as Trade War Expands — Beijing has also asked that Chinese carriers halt any purchases of aircraft-related equipment and parts from US companies, sources say.
- China Suppliers Mock Tariffs With Nike, Lululemon Deals on TikTok — TikTok users in the US are being inundated with videos from Chinese influencers encouraging American buyers to overcome punitive Trump tariffs by buying direct from the “world’s factory” — China.
- China Won’t Talk If US Doesn’t Show Respect, Ex-Official Says — China will only engage in talks with the US if its leaders show respect toward Beijing, according to a former top Chinese economic official.
- Made-in-China Toy Tycoon Says Tariffs Will Double US Prices — Toy billionaire Nick Mowbray said President Donald Trump’s tariffs have “paralyzed” his company and left it with little choice but to pump up retail prices in the US.
- Opinion: The Next TikTok Shutdown Is Likely to Be Longer — The trade war with China is compounding an impasse that shows few signs of being resolved by the June deadline. By Dave Lee.
Reuters
- China’s murky bankruptcies expose hazards for foreign investors — Gaps in enforcement of China’s insolvency laws can leave creditors vulnerable to opaque dealings and malicious bankruptcy filings by firms seeking to evade payment obligations.
- Philippines calls joint US drills ‘defense rehearsal’ as China tensions simmer — The drills will emphasise interoperability across domains, including maritime and air defence, and stretch from Palawan to the northern Luzon islands – areas facing the South China Sea and Taiwan.
- China says it is ‘tearing down walls’ to expand trade alliances amid US standoff — The World Trade Organization has warned the high-stakes Sino-U.S. trade row could cut the shipment of goods between two economies by as much as 80% and severely hurt global growth.
Other Publications
- Foreign Policy: Why Beijing Is Standing Up to Trump — Chinese leaders have their pride, too.
- Foreign Affairs: How America Can Stay Ahead of China in the AI Race — The Case for Export Control Diplomacy.
- POLITICO: Tariff carve-outs underscore weak US position in China trade war: ‘This is going to get really ugly’ — With its electronics exceptions, the United States has demonstrated that it is more willing to bend than the Chinese.
- The Washington Post: China’s online retailers give Trump’s tariffs a one-star review — Trump’s tariffs are complicating Chinese vendors’ efforts to become the next big thing on TikTok — or Shein or Temu. But they’re pledging to find a way through.
- CSIS: The Limits of Chip Export Controls in Meeting the China Challenge — The outcome of the chip innovation race will determine which country leads in the development and application of AI, with major strategic and economic security implications.
- The Guardian: Chinese researchers can access half a million UK GP records — Medical information will be available from UK Biobank, despite western intelligence agencies’ security fears.
- The Information: Chinese AI Startup Zhipu Targets IPO as Soon as This Year — Zhipu AI, a major Chinese artificial intelligence startup that develops its own AI foundation models, is aiming to go public as soon as October.
