China Us Trade

China turns to domestic AI chips, looks to cut dependence on US firms

The Ministry of Industry and Information Technology added AI processors from Huawei and Cambricon to its government-approved list of suppliers

Trump proposing $12 bn aid for farmers hit hard by trade war with China

President Donald Trump is planning a USD 12 billion farm aid package, according to a White House official a boost to farmers who have struggled to sell their crops while getting hit by rising costs after the president raised tariffs on China as part of a broader trade war. According to the official, who was granted anonymity to speak ahead of a planned announcement, Trump will unveil the plan Monday afternoon at a White House roundtable with Treasury Secretary Scott Bessent, Agriculture Secretary Brooke Rollins, lawmakers and farmers who raise cattle and grow corn, cotton, sorghum, soybeans, rice, wheat, and potatoes. Farmers have backed Trump politically, but his aggressive trade policies and frequently changing tariff rates have come under increasing scrutiny because of the impact on the agricultural sector and because of broader consumer worries. The aid is the administration's latest effort to defend Trump's economic stewardship and answer voter angst about rising costs even a

Trump allows Nvidia to ship H200 AI chips to China, aims to keep US ahead

The controlled sale of Nvidia's H200 chips to China will carry a 25% US charge, with Trump arguing that the plan safeguards innovation, supports workers and keeps America ahead in the global AI race

China's trade surplus hits record high, crosses $1 trn for first time

China's exports were up 5.9 per cent from last year, higher than expected, while imports rose only 1.9 per cent, creating a monthly surplus of $112 billion

China's exports grow 5.9% in November despite 29% drop in US shipments

China's exports returned to growth in November following an unexpected contraction the month before, although shipments to the United States dropped nearly 29% from a year earlier in an eighth straight month of double-digit declines. Overall exports from China were 5.9% higher than last year in November in dollar terms, customs data released on Monday showed, at $330.3 billion, better than economists' estimates. That was an improvement from a 1.1% contraction in October. While exports from China to the US have fallen for most of the year, shipments have surged to other destinations, including Southeast Asia, Africa and Latin America. China's imports increased 1.9% in November, better than October's 1% growth, even though a persistent downturn in the property sector is still weighing on consumer spending and business investment. A year-long trade truce between China and the US was reached at a meeting between US President Donald Trump and Chinese leader Xi Jinping in late October in

US wants stable trade with China instead of conflict, says Jamieson Greer

Greer claimed that the US trade deficit with China was down "about 25 per cent" since President Donald Trump came to office, a move in the "right direction" for a team seeking to balance flow of goods

Investors unlikely to make much money in India next year: Marc Faber

Investors should diversify, as we don't know what the world will look like in five years. Markets valuations are sky-high, but the economic reality for ordinary people is not good, Faber said.

Firms seek manufacturing alternatives in Vietnam, India amid US-China rift

A trade truce between the United States and China has calmed nerves, but it won't stop the broader movement of companies to countries like Vietnam

China announces curbs on chemicals after Trump deal on fentanyl tariffs

China said Monday it is making good on its pledge to crack down on chemicals that can be used to make fentanyl, a key issue for President Donald Trump during recent talks with Chinese leader Xi Jinping as they aimed to take steps to ease a trade war. Beijing announced new export restrictions on 13 drug-making chemicals to the United States, Canada and Mexico, including those that are used to produce the synthetic opioid blamed for tens of thousands of overdose deaths in the U.S. every year. After meeting Xi in South Korea last month, Trump said China would help end the fentanyl crisis and he would ease a related tariff from 20 per cent to 10 per cent. It shows the back-and-forth nature of U.S.-Chinese cooperation on fentanyl over the years and lessens the recent tensions after Trump launched his campaign of tariffs, including those against the country that is the top exporter of pharmaceutical ingredients, such as the chemicals used to make fentanyl. What the Trump administration ha

US, China suspend mutual shipping probes as trade talks ease tensions

The suspensions remove some costs and uncertainty for an industry that had been facing fees to deliver goods to the US

China bans foreign AI chips in state-funded data centres amid US tensions

Under the new directive, China has ordered data centres that are less than 30 per cent complete to remove foreign chips and scrap any plans to buy them

US steps up investment in rare-earth firms to curb reliance on China

The announcements are the latest in a string of actions taken by the federal government to invest directly in the supply chain of permanent magnet production, an industry dominated by China

China started reducing reliance on the West years before Trump tariffs

Two decades of sustained effort to build national self-reliance and minimize imports have antagonized trade partners but fortified what a senior adviser called Beijing's "bulwark" against conflicts

'Prevent world from returning to law of jungle': Xi warns against bullying

Xi's remarks came as he was the only superpower left at the summit after US President Donald Trump departed from South Korea a day earlier

China factory activity shrinks for 7th month despite trade truce hopes

China's factory activity contracted for the seventh consecutive month in October, the government said Friday, as a newly announced truce in the trade war between the US and China offers some hope for a stronger recovery in exports. The official manufacturing purchasing managers index slipped to 49 in October from 49.8 in September, worse than forecast, the China's National Bureau of Statistics reported, based on a survey of factory managers. Measured on a scale between 0 and 100, a PMI reading below 50 indicates contraction. On Thursday, US President Donald Trump said the US will cut its fentanyl-related tariffs on China from 20 per cent to 10 per cent after his meeting in South Korea with Chinese leader Xi Jinping, bringing down US tariffs on Chinese goods from 57 per cent to 47 per cent. China has been diversifying exports from the US, with shipments to regions including Southeast Asia and Africa growing. Exports to the US, however, have dropped by double-digits for six straight

China's rare earth export delay gives US chance to control market dominance

China's promise to delay its newest restrictions on the export of the rare earths that are crucial to many high-tech products for one year as part of a trade agreement President Donald Trump secured creates an opportunity for the US and its allies to bolster their own production and processing capabilities. But it will be hard to undercut China's stranglehold on the market. The restrictions China imposed on rare earths this year have been a key issue in the trade talks between Beijing and Washington. Trump responded angrily to China's latest rules with a threat to impose an additional 100% tariff on all Chinese imports, but he has since dropped that demand as part of this agreement. This week's deal will delay the regulations that would have required foreign companies to get special approval to export items that contain even small traces of rare earths elements sourced from China even if those products were made elsewhere by foreign companies, but it doesn't eliminate restrictions ..

China gains edge in trade war without fighting ahead of Trump-Xi talks

US is expected to take Trump's threat of 100 per cent tariffs on Chinese goods off the table while China is expected to delay export controls on critical minerals, and revive soyabean purchase

China buys first US soybean cargoes of season ahead of trade deal talks

The shipments are booked for loading and possible delivery later this year, according to people familiar with the matter. They asked not to be named as they are not authorized to speak to media

Rare earth producers look to US-led boom to counter China's dominance

Beijing has long supported strategic enterprises, either directly or through indirect means like inexpensive loans or a helping hand with permits, a far cry from West's economically driven approach