China

April 16, 2025 4:12 PM

China responds to 245% US tariff: “Ask US for details”

Reacting to the White House’s claim that China now faces tariffs of up to 245% on exports to the United States, Chinese Foreign Ministry spokesperson Lin Jian urged reporters to “ask the US side for specific tax rate figures.” Addressing a press briefing on Wednesday, Lin reiterated China’s consistent position on the issue, saying that the tariff dispute was initiated by the US. He maintained that Beijing’s countermeasures were taken to safeguard its legitimate rights and uphold inter...

April 16, 2025 3:09 PM

China Q1 GDP growth tops expectations, but US tariff shock looms large

China's first-quarter economic growth outstripped expectations, underpinned by solid consumption and industrial output, but analysts fear momentum could shift sharply lower as U.S. tariffs pose the biggest risk to the Asian powerhouse in decades. President Donald Trump has ratcheted up tariffs on Chinese goods to eye-watering levels, prompting Beijing to slap retaliatory duties on U.S. imports that have raised the stakes for the world's two biggest economies and rattled financial markets. Data...

April 16, 2025 9:07 AM

Asian shares fall as Nvidia hit by U.S. chips curbs, gold hits record

Shares fell in Asia on Wednesday as AI darling Nvidia took a hit from U.S. curbs on chip sales to China, highlighting the damage to come in a tit-for-tat global trade war, while gold hit a record and the dollar stayed under pressure. Data showed that China's economy grew 5.4% in the first quarter from a year earlier, beating expectations, although trade tensions with the U.S. have clouded the outlook. Overnight, President Donald Trump ordered a probe into potential new tariffs on all U.S. crit...

April 9, 2025 7:40 PM

China retaliates as Trump trade tariffs kick in

China will impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced, its finance ministry said on Wednesday, firing the latest salvo in a global trade war sparked by U.S. President Donald Trump. Trump's "reciprocal" tariffs on dozens of countries took effect earlier on Wednesday, including massive 104% duties on Chinese goods. The European Union is also preparing its own retaliatory measures for later on Wednesday. Trump's punishing tariffs - which he says aim to en...

A investor pays attention to the stock market at a securities trading hall in Hangzhou, east China's Zhejiang province on April 8, 2025. Photo credit should read CFOTO/Future Publishing via Getty Images

April 9, 2025 8:57 AM

Stocks slide in Asia as recession fears pummel sentiment, oil hits four-year lows

Stocks in Asia extended a slide on Wall Street on Wednesday as President Donald Trump looked set to press ahead with whopping 104% tariffs on Chinese goods, pummelling oil prices to four-year lows as global recession fears gripped financial markets. The U.S. dollar fell against safe-haven currencies but the offshore yuan hit a record low of 7.4287 per dollar overnight. Fed fund futures jumped in early Asian trade to imply around 115 basis points of interest rate cuts this year, compared to 92 b...

April 8, 2025 9:13 AM

China criticises Trump tariff ‘blackmail’ as market turmoil settles

China said it would not bow to "blackmail" from the United States as a global trade war touched off by U.S. President Donald Trump's sweeping tariffs showed little sign of abating on Tuesday even as battered stock markets steadied. The rebuke came after Trump said he would impose an additional 50% duty on U.S. imports from the world's No.2 economy on Wednesday in response to Beijing's decision to match the 34% 'reciprocal' duties Trump initially unveiled last week. "The U.S. side's threat to e...

April 3, 2025 6:54 PM

Southeast Asian nations, among hardest-hit by Trump tariffs, seek talks

Southeast Asian nations reeled on Thursday as they were hit with some of President Donald Trump's heftiest tariffs, which now threaten the economies that have benefited from investment since he imposed levies on China during his first term. Vietnam, slapped with 46% tariffs, said it would set up a task force and Thailand's prime minister said she would pursue negotiations to try to reduce the 37% rate her country faces - far greater than the 11% it had expected. Both countries are heavy export...

April 3, 2025 2:20 PM

India gains competitive edge amid US tariffs on electronics

India has emerged as a key beneficiary in the first round of reciprocal US tariff announcements, positioning itself ahead of major electronics-exporting nations like China, Vietnam, Thailand, and Indonesia, according to industry experts. The development follows sustained diplomatic efforts by Indian negotiators and leadership. With China facing combined tariffs of up to 54-79% and Vietnam at 44%, India's relatively better tariff positioning presents a valuable window to expand its electronics e...

March 27, 2025 12:05 PM

India and China take “step-by-step” approach to resume dialogue, discuss bilateral cooperation

India and China on Wednesday discussed resuming dialogue mechanisms between the two nations "in a step-by-step manner," focusing on "each other’s priority areas of interest and concern," according to a statement from India’s Ministry of External Affairs (MEA). During a meeting in Beijing between Gourangalal Das, Joint Secretary (East Asia) from India's Ministry of External Affairs, and Liu Jinsong, Director General of the Department of Asian Affairs at China’s Ministry of Foreign Affairs,...

March 26, 2025 5:04 PM

Taiwan to channel World War Two spirit to bolster response to China’s threats

Taiwan will use this year's events to mark the 80th anniversary of the end of World War Two to bolster public sentiment on the need to defend the island from Chinese threats - and remind the world it was not the government in Beijing that won the war. World War Two, and the full-scale Japanese invasion of China in 1937 that preceded the start of the world war in 1939, is a touchy historical subject in both China and Taiwan. The Chinese government at the time was the Republic of China, and its ...