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US-China trade war

US-China trade war
Breaking news and analysis on the US-China trade war, its history and timeline, and the impact on the global economy.
Scott Bessent has outlined Washington’s approach to managing economic risks with China while expanding engagement in Latin America. Photo: Getty Images
US-China relations

Treasury chief says US seeks ‘fair’ China competition, eyes Latin America realignment

Scott Bessent says Washington wants to reduce security risks without decoupling from Beijing as it steps up engagement across Latin America.

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Rare earths

Opinion | New US-led minerals bloc renews pressure on Asia to pick sides

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US-China relations

China may overtake US economically, still risk war in Taiwan Strait: survey

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China Conference: Southeast Asia

Asean urged to rewrite trade rule book as US turns transactional

The US and China are the top two trading partners for Asean but it is questionable how long that status quo will last, observers say.

Mohamed Amersi (centre) and Bernardino Moningka Vega (right) take part in a plenary panel hosted by SCMP Executive Editor Zuraidah Ibrahim at the China Conference: Southeast Asia 2026 on Tuesday. Photo: SCMP
US-China relations

As Bessent tips next US-China trade talks, analysts see Trump-Xi meeting prep

Treasury Secretary Bessent confirms preparations for high-level dialogue, with analysts expecting a focus on specific transactional wins over a relationship reset.

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China-EU relations

EU ‘mega tariff’: French minister urges caution amid calls for 30% China duty

Finance minister distances himself from French government agency’s proposal for blanket EU tariffs on China to stop ‘destruction’ of local industry.

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Energy

Russian oil tankers list Singapore as destination amid sanctions, shift to China

Move comes as India is set ‌to ⁠scale back or halt Russian oil imports after a recent US trade deal left China as Russia’s main customer.

Rosneft’s Russian-flagged crude oil tanker Vladimir Monomakh. Shipping data shows that Russian oil tankers are increasingly listing Singapore as their official destination. Photo: Reuters
China consumption

China failed to hit 2025 soybean meal dependence target. US deal makes it harder

Beijing sees soybeans as the agricultural industry’s biggest vulnerability, while plans to cut their use in animal feed have little success.

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Science

Could this thrust device give Chinese drones an edge over F-35s?

An aerodynamic tail nozzle designed in Nanjing proves its mettle in a high-subsonic speed drone test.

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China economy

Opinion | Why the US really fears Chinese ‘overcapacity’

China doesn’t have a problem with ‘overcapacity’; rather, the United States lacks an economic strategy that can generate abundance.

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A Chinese flag flies from a ship at the Port of Oakland, in California, on April 15, 2025. Photo: AP
India

Opinion | Why the new US-India trade agreement is a big deal

The warming of New Delhi’s ties with Washington has implications for Russia, China and the global dynamics of trade and geopolitical power.

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US President Donald Trump meets Indian Prime Minister Narendra Modi at the White House in Washington on February 13, 2025. Photo: Reuters
China trade

China-Canada canola deal faces test as USMCA trade talks loom, insiders warn

Initial shipments bring hope, but ‘Fortress North America’ threat and lack of long-term guarantees leave producers wary of Beijing’s commitment.

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China-EU relations

Stung by Trump’s policies, German multinationals cautiously pivot towards China

German firms are keen to invest more in China as they shy away from the US, but they still face issues in the Chinese market, business group says.

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Belt and Road Initiative

Trump wants China out of South America – but Peru’s Beijing-backed port is abuzz

Beijing’s hunger for minerals and raw materials is pushing trade in the region to record levels, even after incidents in Panama and Venezuela.

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A container is lifted by a crane at the Chinese-funded Chancay port in Peru, on October 29, 2024. Photo: AP
SCMP Exclusives

Exclusive | US defends new minerals alliance, rejecting claims it targets China

Washington says the Forge initiative is about securing supply chains against shocks and price coercion, not building an exclusive bloc.

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Mignon Houston, deputy spokeswoman for the US State Department, on Thursday in Washington. Photo: Handout
World Economic Forum (WEF) in Davos

Opinion | How Trump’s Davos spotlight was upstaged by middle powers breaking away

While they continue to flatter Trump, politicians and businesses are also pursuing new deals and trading partners, diversifying supply chains and exploring ways to reduce dependence on the US.

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US-China relations

US Treasury chief warns of China’s push for digital asset dominance

Scott Bessent tells senators the US must pass the Clarity Act to counter Hong Kong’s ‘sandbox’ and maintain global financial leadership.

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Transport and logistics

Panama’s ‘dangerous precedent’: why ports appear pawns as politics top contracts

Panama’s move to void CK Hutchison’s deal fuels fears of broader asset seizures, with analysts warning of rising risks for Chinese operators in the US sphere.

A view of the main entrance of the Port of Balboa in Panama City on Friday. A subsidiary of Hong Kong-based CK Hutchison, Panama Ports Company (PPC), announced on Tuesday that it had initiated international arbitration proceedings against Panama after its courts revoked the concession allowing it to operate two ports on the interoceanic canal. Photo: AFP
US-China relations

What Xi’s calls with Trump and Putin reveal about China’s balancing act

Beijing holds rare same-day talks with Kremlin and White House as powers face headwinds at home, energy uncertainties and nuclear pact’s end.

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United States

Opinion | Tariff by tariff, Trump is building a trade wall around the US

Amid the precarity of Trump’s limited economic success at home, trade wars abroad have only sped up the transition to a multipolar world.

Malaysia

Malaysia denies granting US exclusive rare earth access in Trump trade deal

Signed at the Asean Summit with the US president, the deal remains under negotiation as Malaysian PM Anwar seeks further written assurances.

US President Donald Trump (left) and Malaysian Prime Minister Anwar Ibrahim shake hands during the signing of a Cambodia-Thailand peace deal In Kuala Lumpur in October 2025. Photo: Getty Images
Ukraine

Canada’s former deputy PM hopes for less economic dependency on China in future

Canada’s former deputy prime minister supports economic system ‘in which China works’ but other countries’ vulnerabilities are limited.

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Chrystia Freeland, who served as Canada’s deputy prime minister, says countries must be careful about whom they build economic dependencies on. Photo: The Canadian Press via AP
United States

US pitches critical minerals plan to allies to halt Beijing’s dominance

More than 50 countries encouraged to back US-led framework using price floors and financing to blunt Beijing’s control of hi-tech materials.

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China-Latin America relations

Panama president defends ruling after China slams canal port concession decision

Panamanian President Jose Raul Mulino rejects Chinese criticism, arguing verdict was within Panama’s constitutional and legal framework.

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United States

Opinion | Chilling effect of US outbound investment rules will extend beyond China

Outbound investment rules introduced last year are expanding and hardening into law, chilling US investment across Asia’s tech ecosystems.

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US Treasury Secretary Scott Bessent speaks at the USA House at the annual meeting of the World Economic Forum in Davos, Switzerland, on January 21. Photo: AP
China food security

China signals strong soybean imports – what does it mean for food security?

Beijing also vows broader agricultural opening while safeguarding domestic production and farmers.

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China has committed to buying at least 25 million tonnes of US soybeans annually through 2028, according to Washington. Photo: Reuters
Asia-Pacific Economic Cooperation

Xi’s Apec playbook? How China could use new chair role at ‘pivotal juncture’

Hosting the bloc for just the third time in 25 years, China is promoting people-centred policies, infrastructure funding and predictability.

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US-China relations

Top US trade official spells out plan to break China’s grip on critical minerals

Howard Lutnick accuses China of dumping and weaponising supply chains as White House tries to rally allies to its cause.

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