8 d. ago China ‘made a real mistake’ by ‘firing shots’ on rare earths, Bessent says

US Treasury secretary says US will protect itself from supply shocks in 12-24 months

Politics

9 d. ago China's rare earth export delay offers US a chance to weaken Beijing's grip on the market

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 creates an opportunity for the U.S. and its allies

Politics

9 d. ago Britain would do well to remember where its power over China lies | Simon Jenkins

It’s ridiculous for the government to splurge on defence while it slashes spending on its most valuable asset: cultureThe US has backed down in its tariff war with China. Thanks to Donald Trump’s egotistical diplomacy, rare earths can again flow one way, soya beans the other, and less of the chemicals used to make fentanyl in between. No matter that the war was Trump’s own idea and seems to have been a stunt. The stunt is over. Trump has played his favourite game of dealmaker, much to the discomfort of millions.Meanwhile Britain still cannot make up its mind if China is its enemy. In 2008 British officials visited the Beijing Olympics authorities to discuss the next games in London in 2012. The government told them to “raise” human rights issues, about which the British government was most concerned. I am told the Chinese reacted with sympathy at the Britons’ embarrassment at broaching the matter, and then everyone got down to business. Soon China was a friend, certainly to David Ca...

Politics

1 week ago Donald Trump says he'll lower tariffs on China following 'amazing' meeting with Xi Jinping

‘I thought it was an amazing meeting,’ Trump told reporters aboard Air Force One shortly after he departed Busan, ranking the talks a ‘12 out of 10’

Politics

1 week ago Trump calls China’s Xi Jinping ‘a tough negotiator’ ahead of meeting amid escalating trade tensions and fragile global markets

High-stakes sit-down follows months of tensions and tariff threats over China’s rare earth export controls

Politics

1 week ago Trump and Xi talks could end months of global economic chaos

High on agenda for the leaders of the US and China will be rare earths and tariffs, with a chance of a relationship resetAhead of Thursday’s long-awaited first meeting between Donald Trump and Xi Jinping since the US president’s return to office, officials from both sides have been hammering out the contours of what a trade deal between Washington and Beijing might look like, an agreement that could bring an end to months of global economic chaos caused by the US-China trade war.The two leaders have not met in person since 2019. Since then, the war in Ukraine and increasing concern in Washington about China’s technological advances, as well as longstanding issues about the imbalanced US-China trade relationship, have strained the bonds between the two superpowers. Continue reading...

Politics

1 week ago Trump hails Japan’s ‘great’ new female PM Sanae Takaichi as he seals tariffs and rare earths deal

Tokyo and Washington celebrate ‘new golden age’ of friendship

Economics

1 week ago US and China seek to strike a deal over rare earths, tariffs, soybeans

The United States and China are not going to resolve all the issues that divide them before presidents Donald Trump and Xi Jinping meet Thursday in Busan, South Korea

Economics

2 w. ago China's rare golden monkeys debut at European zoos, a possible successor to 'panda diplomacy'

China's endangered golden snub-nosed monkeys have joined pandas as diplomatic envoys to Europe

Politics

2 w. ago Battle between Netherlands and China over chipmaker could disrupt car factories, companies say

Volvo, VW and Nissan among companies that could face supply problems due to Dutch takeover of NexperiaCar companies across Europe and Japan including Volvo, Volkswagen, Honda and Nissan have warned that the battle between the Netherlands and China over control of the chipmaker Nexperia could hit production at factories.Last week’s decision by the Dutch government to take control of the Chinese-owned chipmaker, which is based in the Netherlands, has sent shock waves across the car industry, which is already facing potential shortages of products such as magnets amid China’s latest restrictions on rare earths exports. Continue reading...

Events

2 w. ago Volvo and VW say Dutch takeover of Chinese chipmaker could halt car factories

Japan also affected as manufacturers report Nexperia has warned them of possible supply problem Business live – latest updatesCar companies across Europe and Japan including Volvo, Honda and Nissan, have warned that the Dutch takeover of a Chinese-owned chip manufacturer could hit production at factories.Last week’s decision by the Netherlands government to take control of Nexperia has sent shock waves around the auto industry, which is already facing potential shortages in products such as magnets amid China’s latest restrictions on rare earths exports. Continue reading...

Politics

2 w. ago Trump administration considering curbs on exports to China made with US software

Plan would include everything from laptops to jet engines, to retaliate against Beijing’s latest round of rare earth export restrictionsUS politics live – latest updatesThe Trump administration is considering a plan to curb a dizzying array of software-powered exports to China, from laptops to jet engines, to retaliate against Beijing’s latest round of rare earth export restrictions, according to a US official and three people briefed by US authorities.While the plan is not the only option on the table, it would make good on Donald Trump’s threat earlier this month to bar “critical software” exports to China by restricting global shipments of items that contain US software or were produced using US software. Continue reading...

Politics

2 w. ago Rare earths shares soar as US and China battle over export controls

Trump administration plans to set price floors, create strategic minerals reserve and take equity stakes

Events

2 w. ago To hit back at the United States in their trade war, China borrows from the US playbook

China has expanded its export rules on rare earths, requiring foreign firms to get approval for exporting products containing even small amounts of China-originated materials

Events

3 w. ago Major rare earth firm scraps plans for £190m UK plant in favour of US

UK-listed firm Pensana had planned to build the £190million Saltend site near Hull, to process raw materials used in technologies such as electric cars and wind turbines.

Economics

3 w. ago US and China begin collecting port fees on each other’s vessels amid trade war

A return to an all-out trade war appeared imminent last week, after China announced a major expansion of its rare earths export controls

Events

3 w. ago US treasury secretary accuses Beijing of trying to damage global economy; silver hits record high – business live

Rolling coverage of the latest economic and financial newsWhy has US-China trade war restarted and how have markets reacted?A flurry of takeover talk speculation has pushed up shares in budget airline EasyJet this morning.EasyJet’s shares are up over 7%, leading the risers on the FTSE 100 share index.“[The group] does not believe the redress methodology proposed by the FCA appropriately reflects actual customer loss or achieves a proportionate outcome.“...the FCA’s proposed approach to assessing unfairness does not align with the legal clarity provided by the supreme court judgement in respect of the “Johnson” case, which confirmed that the test for unfairness is highly fact specific and must take into account a broad range of factors. The group will continue to engage with the FCA in respect of these points.“Many motor finance lenders did not comply with the law or the rules. It’s time their customers get fair compensation. Recent court judgments show that liabilities exist no matt...

Events

3 w. ago Trump's rare earth row with China casts a dark shadow over the global economy, says ALEX BRUMMER

Washington and Beijing are at daggers, despite Trump's claims of a good relationship with supreme Chinese leader Xi Jinping (pictured together).

Politics

4 w. ago Markets tumble as Trump escalates trade war with 100% tariff on China ‘over and above’ current rates

Stocks had been dropping all day after Trump announced a ‘massive increase of Tariffs on Chinese products,’ to counter the country’s new export controls on rare earth minerals

Politics

4 w. ago Trump threatens 100% China tariffs as Beijing restricts rare

President accuses China of ‘very hostile’ moves and says additional tariffs could come on 1 November ‘or sooner’Donald Trump has threatened to impose additional US tariffs of 100% on China from next month, accusing Beijing of “very hostile” moves to restrict exports of rare earths needed for American industry.Wall Street fell sharply after the US president reignited public tensions with the Chinese government, and raised the prospect of another acrimonious trade war between the world’s two largest economies. Continue reading...

Politics