10 h. ago China’s rare earth magnet exports to US surge 660% after breakthrough trade deal

China’s rare earth magnet exports to US surge 660% after breakthrough trade deal  New York Post

Politics

15 h. ago As trade deals show, the US now seeks rent from Asean, not partnership

US President Donald Trump’s return to tariff diplomacy is on full display in Southeast Asia as he boasts of trade deals with first Vietnam, then Indonesia. The region faces some of the world’s steepest US tariffs come August 1, and many countries have rushed into last-minute talks to avoid economic fallout. Trump has announced a 19 per cent tariff on all Indonesian goods entering the United States under a deal, down from 32 per cent, with Indonesia agreeing in return to buy 50 Boeing jets and...

Politics

61 h. ago Chinese firms in Mexico expected to keep US free trade perks despite rivalry

Chinese-funded factories in Mexico are “very unlikely” to be excluded from preferential treatment under the United States-Mexico-Canada Agreement (USMCA) despite the free trade deal being up for review next year, a Mexican envoy said on Thursday. “There is no indication that there are going to be restrictions targeting Chinese companies,” David Trujillo, deputy commercial counsellor at the Mexican Embassy in China, told the Post on the sidelines of the China International Supply Chain...

Politics

65 h. ago No to Nick Adams: Malaysian activists warn of protests against US envoy pick

Members of Malaysia’s ruling coalition gave their strongest warning yet against the nomination of “alpha male” social media provocateur Nick Adams as America’s new envoy to the Southeast Asian nation, promising on Friday to stage weekly protests should he be sent to Kuala Lumpur as ambassador. Analysts warn the appointment could test Malaysia’s diplomatic pragmatism, as it races to finalise a trade deal with Washington ahead of looming tariff deadlines. The country has been in an uproar after...

Events

4 d. ago How deals are trumping port dispute on Australian PM’s China visit

Beijing has set aside major disputes with Canberra and instead filled Australian Prime Minister Anthony Albanese’s six-day visit to China this week with a slew of trade and investment deals, a move analysts said was an effort to find common ground amid trade tensions with the United States. The deals include the potential widening of access to the Chinese market for Australian farm produce and coal, cooperation in the digitalisation of the financial sector, investment in greenfield projects and...

Politics

4 d. ago On Australian PM’s visit to China, the 2 nations ‘hold back’ on disputes

Beijing has set aside major disputes with Canberra and instead filled Australian Prime Minister Anthony Albanese’s six-day visit to China this week with a slew of trade and investment deals, a move analysts said was an effort to find common ground amid trade tensions with the United States. The deals include the potential widening of access to the Chinese market for Australian farm produce and coal, cooperation in the digitalisation of the financial sector, investment in greenfield projects and...

Politics

4 d. ago Trump Softens Tone on China to Secure Xi Summit and a Trade Deal

Trump Softens Tone on China to Secure Xi Summit and a Trade Deal  Bloomberg.com

Politics

4 d. ago US, China ‘creeping’ toward agreement; Airbus signs deal: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. US and China are ‘creeping’ towards a trade deal, former ambassador Burns says Washington and Beijing are on a “creeping path towards some kind of a deal”, former US ambassador to China Nicholas Burns said on Tuesday, while offering some rare support for US President Donald Trump’s tariff strategy towards China. 2. China’s foreign minister urges SCO to work...

Events

4 d. ago Will Indonesia lose out after Trump’s ‘landmark’ trade deal with Prabowo?

Indonesia has hailed its new trade deal with the United States as a diplomatic “success” that will lower tariffs and boost exports to the world’s largest economy, even as analysts warn the agreement could harm local farmers and compromise energy security. Hasan Nasbi, head of the presidential communications office, said the deal should be “appreciated”, noting that the 19 per cent tariff imposed on Indonesian goods entering the US market was lower than Vietnam’s 20 per cent rate. Hasan said that...

Politics

4 d. ago US and China are ‘creeping’ towards a trade deal, former ambassador Burns says

Washington and Beijing are on a “creeping path towards some kind of a deal”, former US ambassador to China Nicholas Burns said on Tuesday, while offering some rare support for US President Donald Trump’s tariff strategy towards China. Burns, who served as envoy to Beijing under former president Joe Biden from 2022 until this year, told a crowd at the Aspen Security Forum in Colorado that both sides had strong economic incentives to reach a trade agreement. He also pushed back against the...

Events

4 d. ago Former US envoy backs Trump tariffs, says China deserves ‘tough

Washington and Beijing are on a “creeping path towards some kind of a deal”, former US ambassador to China Nicholas Burns said on Tuesday, while offering some rare support for US President Donald Trump’s tariff strategy towards China. Burns, who served as envoy to Beijing under former president Joe Biden from 2022 until this year, told a crowd at the Aspen Security Forum in Colorado that both sides had strong economic incentives to reach a trade agreement. He also pushed back against the...

Politics

5 d. ago Trump claims Indonesia trade deal; Bessent says China deal timeline ‘flexible’

US President Donald Trump said on Tuesday that his administration had reached a trade deal with Indonesia, without offering any details about the terms, scope, or timeline, while his Treasury Department chief cut Beijing some slack on the deadline for a final deal with China. “Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!” Trump said in a social media post. A deal between the US and Southeast Asia’s most populous...

Politics

5 d. ago Trump claims Indonesia trade deal; Bessent calls China deal timeline ‘flexible’

US President Donald Trump said on Tuesday that his administration had reached a trade deal with Indonesia, while his Treasury Department chief cut China some slack on the deadline for a final deal of its own. Speaking to reporters at the White House on Tuesday, Trump said that Indonesia would charge no tariffs on US imports, while exports from the southeast Asian country to America would be subject to a 19 per cent levy. “They are going to pay 19 per cent and we are going to pay nothing ... we...

Politics

5 d. ago India in a fix over Trump’s tariff threat aimed at Russian oil

US President Donald Trump’s threat to impose steep secondary tariffs on countries trading with Russia has raised alarm in India over the future of its discounted oil purchases from Moscow, with analysts warning the issue could complicate negotiations on a bilateral trade deal with Washington. Trump vowed on Monday to impose “very severe tariffs” if Russia did not end its war in Ukraine within 50 days. Washington would target Moscow’s remaining trade partners with measures aimed at choking off...

Politics

8 d. ago China, ASEAN to submit upgraded free trade deal to leaders in October, says China's foreign minister

China, ASEAN to submit upgraded free trade deal to leaders in October, says China's foreign minister  Reuters

Politics

1 week ago Australia’s Albanese confirms China visit as Beijing eyes trade deal review By Reuters

Australia’s Albanese confirms China visit as Beijing eyes trade deal review By Reuters  Investing.com

Economics

1 week ago Australia's Albanese confirms China visit as Beijing eyes trade deal review

Australia's Albanese confirms China visit as Beijing eyes trade deal review  Reuters

Economics

1 week ago Trump’s Vietnam tariff pact challenges Asean unity in key summit

Southeast Asian nations are scrambling to recalibrate their approach to US tariffs ahead of a key diplomatic gathering that starts in Kuala Lumpur on Tuesday, as Washington’s preference for one-on-one trade deals casts doubt over Asean’s collective bargaining power. US President Donald Trump on Sunday announced a delay to the next round of his sweeping “Liberation Day” tariffs – pushing the deadline from July 9 to August 1 – to give time for finalising deals with 18 major trade partners,...

Politics

2 w. ago Vietnam breathes sigh of relief after Trump trade deal, but challenges remain

Vietnam breathed a sigh of relief when US President Donald Trump announced a trade deal had been struck between Hanoi and Washington. The Vietnam Stock Index reached its highest level since April 2022, indicating confidence that export stability had been achieved. On the face of it, the deal is highly unbalanced, with US exports to Vietnam enjoying tariff-free market access, while Vietnamese exports in the other direction now face a 20 per cent rate, slightly over twice last year’s average rate...

Politics

2 w. ago China, EU near EV tariff deal, state media says, refutes ‘trade diversion’ fears

China and the European Union have largely finalised the “technical” part of negotiations towards resolving their electric vehicle (EV) tariff dispute, with the deal now hinging on “political will” from the European side, according to Chinese state-affiliated media. Yuyuan Tantian, a social media account linked to state broadcaster CCTV, reported on Friday night that the “technical negotiations” were essentially complete, with only the “final step” remaining. “The key now depends on whether the...

Economics