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US-China trade war

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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.
Traders work on the floor of the New York Stock Exchange. Photo: AP
United States

Wall Street gains on tariff optimism, strong jobs data

The gains also come amid signs of a de-escalation in the US’ trade war with China.

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Hong Kong economy

Explainer | What Hongkongers should expect with official end of ‘de minimis’ exemption by US

US-China relations

China’s trade talk comments aim to ramp up pressure on US, analysts say

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United States

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

As Trump erratically escalates trade tensions with China and the Global South, his domestic behaviour only adds to geopolitical uncertainty.

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Illustration: Craig Stephens
Indonesia

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

Indonesia is now appealing to companies seeking to relocate operations due to high US tariffs on Chinese solar firms in Southeast Asia.

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Hong Kong economy

Hong Kong economy grows by stronger-than-expected 3.1% in first quarter

Downside risks surrounding global economy have heightened visibly, government spokesman warns.

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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
US-China relations

Opinion | US tariffs a wake-up call for China to improve labour standards

If China’s export competitiveness remains reliant on lowering its labour standards, the US and others will continue their trade-restrictive policies.

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China trade

Canton Fair offers fee refunds as China moves to protect tariff-struck exporters

In an unprecedented move to protect firms amid trade war with the US, the expo has cut fees for Chinese participants in half.

E-commerce

Temu embraces local US sellers as Trump plugs ‘de minimis’ loophole

The shopping site is shifting its US business to a ‘local fulfilment model’, as tariff exemptions for low-value Chinese goods come to an end.

Temu has changed its US business model in response to President Donald Trump’s tariffs. Photo: AFP
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
Trade

US jobs growth likely slowed in April, economists’ survey shows

Non-farm payroll growth probably slowed to 138,000 last month, according to a Bloomberg survey of economists.

Banking & finance

How are Shanghai’s global financial centre aspirations shaping up?

He Lifeng was accompanying President Xi Jinping on Chinese leader’s first inspection tour since US tariffs escalated trade war.

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.

Visitors play games on Xbox consoles during a video game fair in Paris. Photo: AFP
United States

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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China released a viral video to emphasise its stance in the US tariff war, but it lacks fresh insights. Photo: Shutterstock
China economy

China says it is looking at American proposals to scale down tariff war

Ministry of Commerce says US has ‘recently taken the initiative to relay messages to China’.

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US-China decoupling

Opinion | The US is fixated on ‘beating China’. It needs to stop beating itself

A bill introduced five years ago epitomises the emotion, chaos and inconsistency with which Washington approaches its ‘China anxiety’.

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Apple

Apple expects US$900 million tariff hit as it shifts US iPhone supply to India

Vietnam will be the country of origin for most iPad, Mac, Apple Watch and AirPod products sold in the US, CEO Tim Cook says.

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Apple warned of added costs and supply chain disruptions as a result of US tariffs. Photo: Reuters
China trade

‘They’re afraid’: Chinese firms in Vietnam face closure if US tariffs return

Many factories have already cancelled orders and scrapped expansion plans despite the US pausing its ‘reciprocal’ duties for 90 days.

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Donald Trump

Small US businesses seek relief from Trump tariffs, calling them crippling

Business owners say they cannot wait while trade negotiations unfold: ‘we don’t have the bandwidth to plan out six months ahead’.

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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
US-China relations

US must cut China tech reliance, says Trump’s pick for No 2 at Commerce

Nominee asked how he would keep America first as Washington lawmakers fret over Beijing’s lead in EVs, telecoms and advanced manufacturing.

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A screenshot of Paul Dabbar, US President Donald Trump’s nominee to serve as deputy secretary of commerce, testifying at his confirmation hearing in Washington on Thursday.
US-China relations

Editorial | Xi answers trade war with hi-tech strategy to fuel development

Shanghai visit by President Xi Jinping leaves no doubt that way forward for China is via technological self-reliance and closer ties with Global South.

China economy

First blood? Trump’s trade war starts to bite as China’s cargo shipments slump

US tariffs are beginning to take a toll – but some analysts believe Beijing could still achieve 5 per cent GDP target.

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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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A man walks past a currency exchange office in Buenos Aires, Argentina, on April 1. While many expect the US dollar to keep depreciating, the currency still accounts for nearly 60 per cent of foreign reserve holdings and almost 90 per cent of foreign exchange transactions. Photo: EPA-EFE
US-China relations

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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US President Donald Trump unveils sweeping new “Liberation Day” tariffs in the White House on April 2, 2025. Photo: TNS

China’s ex-trade negotiator takes lesser role as Trump tariff war heats up

Wang Shouwen, formerly No 2 at Ministry of Commerce, moves to less prestigious position, indicating he may be winding down his career.

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China tariffs

Video | Amazon scraps plan to list tariff costs

E-commerce giant says plan ‘never approved’ following White House complaint

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