China's delay in approving export licences threatens manufacturing, EVs, and defence tech worldwide
Economists polled by Reuters had forecast a 1.9 per cent increase in exports and a 5.9 per cent drop in imports
Chinese exporters are using repackaging, mislabeling, and rerouting tactics to avoid steep Trump-era tariffs, raising alarm across Asian trade hubs and customs agencies
Higher tariffs on US imports of products from China appear to be taking a toll on the world's second-largest economy, according to monthly surveys of Chinese factory managers released Wednesday. The official survey by the China Federation of Logistics and Purchasing shows export orders slowed in April, with Beijing and Washington in a standoff after US President Donald Trump ordered combined tariffs of up to 145 per cent on Chinese goods. China has imposed duties of up to 125 per cent on US products, with some exemptions. It has also ordered other retaliation, such as tighter restrictions on exports of some strategically important minerals used for high-tech products such as electric vehicles. The official manufacturing purchasing managers index fell to a 16-month low of 49.0 from 50.5 in March. That's on a scale where 50 marks the break between expansion and contraction. A private survey by the financial information group Caixin fell to 50.4 from 51.2. The sharp drop in the PMIs .
American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president's massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for American shoppers, perhaps within weeks. And the higher costs and paralysing uncertainty could exact an economic toll: US consumers are in the biggest funk since COVID-19 hit five years ago, and economists say recession risks are climbing. An early sign of the damage is expected to emerge on Wednesday when the Commerce Department releases its first look at first-quarter economic growth. The economy is forecast to have expanded at an annual pace of just 0.8 per cent from January through March, according to a survey of economists by the data firm FactSet. That would be the slowest quarter of growth in nearly three years and would be down from a healthy 2.4 per cent in the last three
India, the world's second-biggest producer of crude steel, imposed a 12% temporary tariff, or provisional safeguard duty, on some steel imports for 200 days
India may become a key supplier of rapeseed meal to China if Beijing eases its stringent trade restrictions on the commodity, according to industry body Solvent Extractors Association of India (SEA). A shortage of rapeseed meal in the European Union has driven global prices significantly higher. China, a major consumer, currently imports the protein-rich animal feed primarily from Canada and the EU. "Given the current supply constraints and rising prices, India has a renewed opportunity to explore and recapture its lost share in the Chinese market," Mumbai-based SEA said in a statement. Indian rapeseed meal is currently priced at USD 209 per tonne free alongside ship (FAS) at Kandla port, substantially lower than the USD 335 per tonne being quoted ex-Hamburg in the international market. "Leveraging this opportunity could not only boost India's exports but also help stabilize prices in the international market," SEA added. India, the world's third-largest rapeseed producer, ...
US President Trump signs executive order to investigate into the national security risks associated with imported critical minerals
US President Donald Trump has ratcheted up tariffs on Chinese goods to hefty levels that many economists say will profoundly impact global trade flows and business investment
Beijing increased its tariffs on US imports on Friday to 125%, hitting back against US President Donald Trump's decision to hike duties on Chinese goods to 145
The cumulative tariff burden on some Chinese products stands at 145 per cent, including duties left in place from previous administrations
Donald Trump's post follows a major decline in US stock markets the previous day, which heightened concerns about a possible global economic slowdown
Exports have been a major driver of China's growth and prosperity. However, there is a clear disconnect between its share of global manufacturing and consumption
Agricultural tariffs, which run from 10 per cent to 15 per cent on an expansive list of items including grains, proteins, cotton, and fresh produce, follow initial action on energy and minerals
Countries that have free trade agreements with the US, such as Singapore and South Korea, are safer with respect to Trump's reciprocal tariff threat, analysts at Nomura said.
Today's pieces cover diverse topics: our editorials examine how India's renewable energy sector is now a victim of its own success, and ponder the government's inexplicable pause on privatisation.
The Khorgos Gateway, connecting northwest China to Kazakhstan, has become a major export hub for China's pre-owned cars
India's shipments to 4 of top 10 destinations declined
Indian firms in the electronics, solar, and electric vehicle (EV) sectors are experiencing delays and disruptions due to China's restrictions on export of key inputs and machinery, economic think tank GTRI said on Thursday. It said the curbs could be China's response to India's restrictions on Chinese investments and visas. "This also signals deeper geopolitical tensions and trade war. We hope India-specific restrictions go away soon as they will also hurt China," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. He added that while these measures impact India's electronics, solar, and EV sectors, they are also harmful to China's own manufacturing and exports. "Indian firms in electronics, solar, and EV sectors are facing delays and disruptions as China blocks exports of inputs and machinery," it said. India must stay firm against unreasonable demands from China and focus on building local manufacturing capabilities and diversifying supply chains, he ...
The firms include mining giant Zijin Mining Group, and solar companies such as a subsidiary of JA Solar Technology Co., according to a statement from the Department of Homeland Security