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US-ally trade wars

US-ally trade wars
The latest news, analysis and opinion on US-ally trade wars. In-depth analysis, industry insights and expert opinion.
Canada’s Prime Minister Mark Carney arrives to his first press conference since forming government in Ottawa, on Friday. Photo: Reuters
Canada

Canada’s PM Carney to visit Trump at White House on Tuesday

Carney has emphasised Canada’s oldest allies, Britain and France, since becoming PM, and that its close friendship with the US has ended.

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United States

Opinion | Trump’s unpredictability and a fractured US are a dangerous mix

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Indonesia

Trump’s tariffs drive Chinese solar firms to Indonesia after Southeast Asia levies

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Apple

Apple sales in China dip as US tariffs add to headache

As iPhone sales in China continue to fall, Apple also faces US$900 million tariff costs this quarter.

Customers look at iPhones in an Apple store in the Huangpu district in Shanghai. Photo: AFP
Japan

Toyota ‘doesn’t break down’: why there’s hardly any love for US cars in Japan

Many Japanese admire vintage US cars, but when it comes to new vehicles, they hold more trust in domestic brands.

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Malaysia

Asean firms in limbo as US tariff window ticks and China ‘dumping’ fears grow

Companies brace for drop in demand and profits as they and regional governments struggle to find a way to tackle the punishing duties.

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China-EU relations

Deal or no deal? EU engages US, China on high-wire bargaining act

Europe must navigate between the two powers, knowing that cutting an economic deal with one could make it impossible to do so with the other.

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Chinese President Xi Jinping meets European Commission President Ursula von der Leyen in Beijing in April 2023. The EU-China Comprehensive Agreement on Investment (CAI) has been frozen at the ratification stage by the European Parliament. Photo: Xinhua
Video gaming

Xbox joins PlayStation in raising console prices amid US tariffs

Hefty levies imposed by Trump on manufacturing hubs such as Japan, China and Vietnam have led to a surge in console prices.

US-China trade war

My Take | Why China’s ‘Never Kneel Down’ video fails to change US trade war narrative

China’s ‘Never Kneel Down’ video employs nationalistic rhetoric to resonate with a Chinese audience, but is unlikely to influence the global narrative on tariffs.

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Japan

Japan says its US$1 trillion in US Treasuries could be leverage in trade talks

A huge US Treasury sell-off in April was reportedly one factor that led Trump to announce a 90-day pause on his ‘reciprocal’ tariff plan.

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Japan’s Finance Minister Katsunobu Kato speaks during an interview in Tokyo in April. Photo: Reuters
United States

Opinion | What Trump should do instead to make US manufacturing great again

Instead of competing with China in shipping, rare earths or EVs, the president should target leading-edge industries like aerospace and quantum computing.

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Illustration: Craig Stephens
Banking & finance

Macroscope | Is the ‘Trump shock’ the end of dollar hegemony?

A bear market for the US dollar is overdue but that doesn’t mean the dominant reserve currency should – or could – be replaced any time soon.

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US-China trade war

A month into Trump’s trade war, the world is divided – how are nations reacting?

China retaliated with strong measures against Washington’s record-high tariffs, but other countries have preferred a softer approach.

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Banking & finance

Opinion | As markets recover from Trump tariff shock, how long will new normal last?

While calm may have been restored for now, the fact is that Trump’s flip-flops have caused fundamental damage to the global economy.

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A trader works on the New York Stock Exchange floor on April 9, as stocks surge amid news of delayed tariffs. Photo: AFP
Family offices

Hong Kong family offices should unload US assets, look to Japan, UAE, advisory says

Now is a ‘critical moment’ to ‘get rid of the US’, especially equities and Treasuries, to ‘maintain lower risk-return ratios’, CEO says.

Pedestrians cross a street in the Shibuya district of Tokyo on February 27, 2024. Photo: AFP
US-China trade war

Letters | Could Trump even convince American workers to make iPhones?

Readers discuss why bringing manufacturing jobs back to the US is easier said than done, and the West’s changing attitude towards China.

Japan

Can Japan reduce US reliance amid Trump policies, and embrace Global South?

Japanese business leaders are urging the country to diversify trade beyond the US to mitigate risks associated with over-reliance on one economy.

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Donald Trump

No China talks under way, Trump trade chief says, but other deals are close

Trump administration is focused on ‘targeted’ deals, US trade representative says.

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US Trade Representative Jamieson Greer arrives at the US Capitol on Tuesday. Photo: AFP
Japan

77% of Japanese doubt US support amid Trump’s ‘erratic’ first 100 days: poll

Japanese scepticism is growing as more than three-quarters of citizens doubt US military support under Trump, despite security assurances.

Donald Trump

Trump says Canada PM Mark Carney to visit ‘within the next week’

The Liberal Party leader won Monday’s election after vowing to stand up to the US president’s threats to annex his country.

US-China trade war

Japan lawmakers warn US tariffs threaten security as China looms

Donald Trump’s policy called a national security challenge as trade negotiations continue between Tokyo and Washington.

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A woman walks in front of a screen displaying Japan’s Nikkei share average inside a building in Tokyo, Japan, on Friday. US tariffs have hit the country’s economy hard. Photo: Reuters
China-EU relations

China lifts sanctions on EU lawmakers amid transatlantic strains

The move had been telegraphed by a series of meetings between European Parliament president and China’s ambassador to the EU.

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European Parliament President Roberta Metsola told a closed-door meeting of the chamber’s senior leadership on Wednesday of China’s lifting of sanctions. Photo: EPA-EFE
US-China trade war

How Trump’s tariff chaos is bringing China’s ‘trade circle of friends’ closer

Washington’s hardline approach is likely to boost Beijing’s ties with Brazil and Latin America in general, according to analysts.

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United States

Wall Street storms back from early losses, concluding a month of Trump chaos

Stocks tumbled at first after news of a shrinking US economy, but bounced back following a good report on inflation.

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Donald Trump

Trump blames Biden as US economy unexpectedly shrinks

US GDP fell at an annual rate of 0.3 per cent in the first quarter, after growth of 2.4 per cent in the last months of 2024.

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US President Donald Trump holds a rally in Warren, Michigan, on Tuesday to mark his 100th day in office. Photo: Reuters
Hong Kong stock market

Worst in 50 years: Trump gets ‘F’ in 100-day report card for markets

The Dow and the S&P 500 plunged in first 100 days of Trump’s second term, while US dollar weakened against yen and Swiss franc, data says.

US President Donald Trump in the Oval Office on Tuesday, April 22, 2025. Photo: AP.
US-China trade war

Canada likely has more room to work with China if US tensions persist: analysts

‘Almost certain’ that electoral victory led by Prime Minister Mark Carney will prompt review of Ottawa’s commercial relations with Beijing.

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US-China relations

Editorial | Chaos marks first 100 days of Trump back in the White House

The US president started a global tariff war and created crisis and unease at home with series of hard-hitting executive orders.

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