Tag: China

Fresh off the global success of DeepSeek’s latest artificial intelligence reasoning model, China’s top economic officials have vowed to set up a state-backed fund to support technological innovation.

Oil prices extended losses on Tuesday following reports that OPEC+ will proceed with a planned output increase in April and as U.S. tariffs on Canada, Mexico and China came into effect, as well as Beijing’s retaliatory tariffs.

China retaliated swiftly on Tuesday against fresh U.S. tariffs with hikes to import levies covering $21 billion worth of American agricultural and food products, moving the world’s top two economies a step closer towards an all-out trade war.

China has American agricultural exports in its cross hairs as it prepares countermeasures against fresh U.S. import tariffs, China’s state-backed Global Times reported, raising the stakes in an escalating trade war between the world’s top two economies.

Treasury Secretary Scott Bessent said Sunday that President Donald Trump’s proposed tariffs are unlikely to raise inflation, in part because China will “eat any tariffs that go on.”

President Donald Trump on Thursday said that his proposed tariffs on Mexico and Canada will go into effect on March 4, and that China will be charged an additional 10% tariff on the same date.

China’s retaliatory tariffs on the United States may cause U.S. oil exports to decline in 2025 for the first time since the COVID-19 pandemic, after growth plateaued last year.

China imposed targeted tariffs on American imports on Tuesday and put several U.S. companies, including Google, on notice for possible sanctions, in a measured response to the sweeping duties on Chinese imports imposed by President Donald Trump.

Beijing is readying an opening bid to try to head off greater tariff increases and technology restrictions from the Trump administration—a sign that China is eager to get trade talks going.

Tariffs announced Saturday by the Trump administration of 25% on goods from Canada and Mexico as well as an additional 10% on products from China are expected to have a profound impact on the global automotive industry.

Manufacturing slowed in China in January for the first time in four months as workers began leaving assembly lines to travel to their home towns for Lunar New Year holidays.

U.S. President Donald Trump on Tuesday vowed to hit the European Union with tariffs and said his administration was discussing a 10% punitive duty on Chinese imports because fentanyl is being sent from China to the U.S. via Mexico and Canada.

The U.S. National Highway Traffic Safety Administration said on Monday it is expanding and upgrading a probe into about 295,125 American Honda vehicles over reports of crashes and injuries due to their automatic emergency braking systems.

China’s new homes prices stopped falling in December for the first time in 18 months, official data showed on Friday, after the government rolled out multiple rounds of stimulus to lift the property sector from a prolonged slump.

China’s economy grew more than expected last year on a late policy blitz and export boom. The danger now is President Xi Jinping eases up on stimulus just as tariffs loom.

China’s economic activity accelerated more than expected in the final three months of 2024 as stimulus measures kicked in, allowing Beijing to meet its annual growth target.

China will launch an investigation into U.S. government subsidies to its semiconductor sector over alleged harm caused to Chinese mature node chipmakers, the commerce ministry said on Thursday.

Five of China’s most important provinces said they plan to grow at or above 5% this year, signs that the country will set an ambitious national target despite growing trade headwinds.

The U.S. has finalized a ban on the use of Chinese and Russian hardware and software in internet-connected vehicles on U.S. roads, an outgoing salvo by the Biden administration to prevent hacking and misuse of data by foreign adversaries.

China’s exports gained momentum in December, with imports also showing recovery, though strength at the year-end was in part fueled by factories rushing inventory overseas as they braced for heightened trade risks under a Trump presidency.