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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.
last updated:
6 February, 2025
China’s President Xi Jinping and French President Emmanuel Macron shake hands after a joint statement at the Elysee Palace in Paris, France, on May 6, 2024. Photo: EPA-EFE
Diplomacy

Opinion | Amid threats to free trade, China and France must rise above differences

Beijing and Paris can craft a relationship that not only serves national interests but also contributes to a more stable, sustainable world.

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E-commerce

China’s online sellers face turmoil after Trump’s tariff reversal

Yuan

Could DeepSeek help China’s yuan dethrone the US dollar?

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US-China decoupling

Opinion | China will survive Trump’s trade war – it’s done it before

Tariffs have not only failed to curb China’s growth, they have also inadvertently helped the country’s domestic economic strategy.

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Employees make drones intended for export at a factory in Ruichang, Jiangxi province on November 27, 2024. Photo: AFP
Hong Kong economy

Trump’s reciprocal tariff plan to hurt Hong Kong, mainland producers: experts

But blanket approach may eliminate competitive edge of producers in other Asian countries, insider says.

US-China relations

China poised to strike back if Trump follows through on sweeping tariff plan

Analysts said the response would be swift from China – and others – if the US imposes more tariffs to counter value-added taxes.

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Donald Trump’s China policy

How will Trump’s reciprocal tariffs affect Chinese shipping lines?

Red Sea crisis still key concern for industry, but unpredictable US president ‘remains a nightmare’.

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A cargo ship and shipping containers at the port of Lianyungang in Jiangsu province in October. Photo: Reuters
US-China trade war: All stories

Outside In | Trump’s bid to collect tax on small Chinese parcels will cost the US

Chinese parcels make up two-thirds of de minimis imports exempt from customs taxes. But cost of processing would outweigh the tax collected.

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Bonds

China central bank issues US$8.2 billion in bills in Hong Kong to stabilise yuan

Move is the latest in a series by China’s central bank that support Hong Kong’s status as a global hub for offshore yuan business.

Banking & finance

Estée Lauder, L’Oreal suffer as global brands’ lustre fades in China

Tit-for-tat tariffs add to peril for global brands as consumers favour high-quality domestic rivals amid a spending slump, analysts say.

People walk in the Pudong financial district in Shanghai on February 5, 2025. Photo: Reuters
Donald Trump

Trump unveils reciprocal blanket tariffs review of all major US trading partners

US president cites unfair duties imposed by other countries on American goods, marking further escalation towards a global trade war.

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US President Donald Trump holds an executive order about tariffs increase. Photo: Reuters
US-China relations

Macroscope | How Trump’s new trade war could hurt US and fix what ails China

Trump’s tariffs will endanger US growth while providing Chinese authorities a chance to make a badly needed pivot towards consumption.

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US-China decoupling

China’s ‘iPhone City’ eerily quiet as Foxconn moves production amid trade war

The giant iPhone assembly plant in Zhengzhou has cut back on hiring as Apple loses market share in China and Foxconn shifts production overseas.

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Hong Kong property

HSBC cuts rates on fixed mortgages in Hong Kong amid slumping sales

Other banks may follow with similar cuts to ease financing costs and help revive home sales.

Pedestrians pass an HSBC branch in Mong Kok on October 22, 2024. Photo: Nora Tam
Donald Trump

Trump blames Biden for surprise rise in US inflation

The US president, who campaigned on lowering costs, now faces the prospect of price increases continuing to accelerate on his watch.

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Eggs for sale at 74.9 cents per egg from a supermarket on February 10, 2025 in Monterey Park, California. Photo: AFP
US-China relations

Unprecedented US visit by all 13 Canadian premiers paints China as ‘enemy’

Bracing for tariffs, provincial leaders seek to win over ‘results-oriented’ White House and ‘protect ourselves from the likes of China’.

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US-China trade war: All stories

In the US-China battle for critical minerals, where will Australia stand?

Canberra is stuck in the middle of Beijing and Washington’s tussle over resources, which has intensified in recent days.

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E-commerce

Discount deals dim: Trump duties dampen demand for Temu, Shein

Shein’s US sales fell 16 per cent to 41 per cent for five days from February 5 while Temu’s fell as much as 32 per cent.

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Chinese e-commerce platforms that ship goods from China directly to consumers such as Temu and Shein are expected to be hit hard by the end of the US de minimis exception that allowed packages worth less than US$800 to be delivered without duties. Photo: EPA-EFE
China trade

Trump has fired his first tariff salvo at China. Are Japan and South Korea next?

The two Asian countries’ sizeable trade surpluses may make them targets for the US president’s next round of import duties.

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Food and Drinks

Mouthing Off | Consumers everywhere will lose if Trump tariffs raise food prices

Food politics is to the fore with Trump’s tariffs, from a ‘buy Canadian’ movement to China’s levy on US farm equipment. Where will it end?

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US-China relations

Explainer | Donald Trump says China runs the Panama Canal. Is he right?

The Latin American country and its vital waterway have been thrust into the spotlight as part of a broader rivalry between the US and China.

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The Panama Canal has become one sticking point of many in a fraught relationship between the US and China. Photo: AFP
United States

Opinion | Trump’s new Gilded Age a reminder of America’s painful past

The US returning to the politics of the late 19th century raises the prospect of greater inequality, oligarchy, imperialism and conflict.

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Illustration: Craig Stephens
US-China relations

US tariffs? China’s steel industry has far bigger problems than that

Chinese steelmakers are more concerned about sluggish domestic demand and persistent industry overcapacity.

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China’s economic stimulus

Foreign investment in China is falling. Can a new action plan turn it around?

China has approved a new plan to attract overseas investors, after recording its steepest drop in foreign direct investment since the 2008 financial crash last year.

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US-China relations

Opinion | Why Trump believes the US can outlast China in the tariff war

Tariffs can be a double-edged sword, but the administration has decided to use economic pressure to achieve broader strategic objectives.

Hats supporting Donald Trump are displayed for sale near the New York Stock Exchange on February 10. Photo: Getty Images via AFP
US-China relations

US-China relations: Trump confirms talks with Xi since his inauguration

In Super Bowl interview on Fox News, the US president says he ‘loves talking’ to his Chinese counterpart.

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US President Donald Trump has told Fox News that he has already held talks with Chinese leader Xi Jinping. Photo: AP
US-China relations

Trump slaps 25% tariffs on steel and aluminium imports with ‘no exceptions’

US president says ‘it’s time for our great industries to come back to America’ after promising broader reciprocal tariffs.

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China-EU relations

Opinion | What would it take for EU to partner China to counter Trump? A lot

EU’s friendly overture to China may be aimed at bargaining with Trump. Meanwhile, China has installed a Wolf Warrior envoy.

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