3 h. ago Trump says all trade talks with Canada are ‘terminated’ over TV ad

US President Donald Trump said late on Thursday that he was ending “all trade negotiations” with Canada because of a television ad opposing US tariffs that he said misstated the facts and called “egregious behaviour” aimed at influencing US court decisions. The post on Trump’s social media site came after Canadian Prime Minister Mark Carney said he aims to double his country’s exports to countries outside the US because of the threat posed by Trump’s tariffs. Trump posted: “The Ronald Reagan...

Politics

3 h. ago Trump says all trade talks with Canada ‘terminated’ over TV ad

US President Donald Trump said late on Thursday that he was ending “all trade negotiations” with Canada because of a television ad opposing US tariffs that he said misstated the facts and called “egregious behaviour” aimed at influencing US court decisions. The post on Trump’s social media site came after Canadian Prime Minister Mark Carney said he aimed to double his country’s exports to countries outside the US because of the threat posed by Trump’s tariffs. Trump’s call for an abrupt end to...

Politics

17 h. ago India may sharply cut Russian oil imports after US sanctions: sources

Indian refiners are poised to sharply curtail imports of Russian oil to comply with new US sanctions on two top Russian producers, industry sources have said, potentially removing a major hurdle to a trade deal with the United States. The change comes as India faces punishing 50 per cent tariffs on its exports to the US – with half of those duties in retaliation for Russian oil purchases – and negotiates a potential trade deal that could bring those tariffs in line with Asian peers in exchange...

Politics

39 h. ago US, China trade officials to meet in Malaysia amid escalating rare earths dispute

US Trade Representative Jamieson Greer said on Wednesday that he and Treasury Secretary Scott Bessent would travel to Malaysia later that day as scheduled to meet with Chinese officials over what he called Beijing’s “incredibly aggressive” measures to curb rare earth exports. The meeting is seen as a stepping stone to a sit-down in South Korea next week on the sidelines of the Asia-Pacific Economic Cooperation forum between US President Donald Trump and Chinese President Xi Jinping at a time of...

Politics

39 h. ago Trump’s meeting with China’s Xi ‘scheduled’ to take place in South Korea

After repeated on-again, off-again signalling in recent weeks, US President Donald Trump said on Wednesday he has a “pretty long meeting scheduled” in South Korea with Chinese President Xi Jinping to ensure that “we can work out a lot of our questions and our doubts”. This followed comments by Trump on Tuesday that the meeting between himself and Xi might not take place. The mercurial US president has a history of teasing events for publicity and in order to extract last-minute concessions from...

Politics

41 h. ago China pushes trilateral currency swap, new drone sighted: 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. China eyes currency swap with Japan and South Korea amid trade tensions: source China is in talks with Japan and South Korea – both US allies – about a possible trilateral currency swap to bolster the region’s financial safety net and deepen economic cooperation amid US President Donald Trump’s trade war, according to a source familiar with the issue. 2....

Events

47 h. ago China’s double threat, a hidden card in the trade war: 7 science highlights

We have put together stories from our coverage on science from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing. 1. ‘Potassium railway’: China’s hidden card in the trade war For over a decade, China has invested heavily to build a dual-purpose passenger and freight railway through the thick rainforest between Kunming and Vientiane, the capital of Laos. This railway has become a critical conduit for China to secure potassium...

Events

2 d. ago Can Scott Bessent see China’s trade counterstrike with clear eyes?

After a video call last Saturday, US Treasury Secretary Scott Bessent and Chinese Vice-Premier He Lifeng are expected to meet in Malaysia this week to hopefully ease tensions before US President Donald Trump and President Xi Jinping potentially meet on the sidelines of this year’s Apec summit. The meeting was in doubt when Trump threatened to impose an additional 100 per cent tariff on China, despite later relenting that it might not be sustainable. Washington blamed Beijing for the escalation,...

Events

3 d. ago Malaysia’s illegal firework trade under fire as ‘coconut’ explosive injures 22

What should have been an evening of light and celebration to mark Diwali in Malaysia descended into chaos on Monday after a fireworks blast injured 22 people, reigniting concerns over lax enforcement of a ban on high-powered explosives. The explosion in Kulim, northern Kedah state, left one man with a fractured skull while others suffered burns and broken bones, police said. Unconfirmed local media reports said other injuries included severed fingers and permanent hearing loss. Kulim district...

Events

3 d. ago China, Australia trade blame after PLA jet releases flares in mid

China and Australia exchanged accusations on Monday after an encounter over the disputed South China Sea, with the PLA’s Southern Theatre Command Air Force saying that it drove away a P-8A military aircraft that illegally intruded into Chinese airspace. “The People’s Liberation Army Southern Theatre Command organised naval and air forces to track and monitor the intruder in accordance with regulations, implement effective countermeasures, and issue warnings to drive it away,” Senior Colonel Li...

Politics

4 d. ago Hong Kong stocks surge on trade optimism, China economic growth

Hong Kong stocks rallied on Monday, rebounding from Friday’s steepest loss since April as US-China trade tensions showed signs of easing and China’s economic growth exceeded expectations. The Hang Seng Index jumped 2.4 per cent to 25,853.08 as of 11am. The Hang Seng Tech Index surged 3.1 per cent. On the mainland, the CSI 300 Index rose 1.2 per cent and the Shanghai Composite Index added 0.9 per cent. NetEase jumped 5.2 per cent to HK$235.40, insurance giant AIA Group added 4.3 per cent to HK$72...

Economics

6 d. ago Top US and China envoys set trade talks after ‘constructive’ phone call

Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent held a phone call on Saturday morning and stated that trade negotiators from their countries would meet next week. “This evening, Vice-Premier He Lifeng and I engaged in frank and detailed discussions regarding trade between the United States and China,” Bessent wrote on social media on Friday evening in Washington. “We will meet in person next week to continue our discussions.” In a separate read-out, China described He’s...

Politics

6 d. ago Top US and China envoys set trade talks after ‘constructive’ video call

Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent held a video call on Saturday morning and stated that trade negotiators from their countries would meet next week. “This evening, Vice-Premier He Lifeng and I engaged in frank and detailed discussions regarding trade between the United States and China,” Bessent wrote on social media on Friday evening in Washington. “We will meet in person next week to continue our discussions.” In a separate read-out, China described He’s...

Politics

6 d. ago Top US and China trade envoys set for talks after ‘constructive’ video call

China and the United States are set to hold fresh trade talks next week, following a video call between Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent on Saturday morning Beijing time. “Vice-Premier He Lifeng and I engaged in frank and detailed discussions regarding trade between the United States and China,” Bessent wrote on social media after their call. “We will meet in person next week to continue our discussions.” In its readout, China described He’s discussions with...

Politics

6 d. ago Myanmar junta forces retake key town on trade route to China

Myanmar’s ruling junta said on Saturday that it had recaptured a town on a trade highway to China from an ethnic armed group in the country’s war-wracked north. Following a 16-day operation, “Tatmadaw reoccupied Hsipaw completely” on Thursday, the state-run Global New Light of Myanmar newspaper said, referring to the military by its Burmese name. Northern Shan state has been rocked by fighting since June 2024 when an alliance of ethnic armed groups renewed an offensive against the military along...

Politics

6 d. ago Hong Kong to navigate trade war with supply chains, says Paul Chan in US

Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States. Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry. “Geopolitical tensions will continue to be there for quite...

Events

6 d. ago Hong Kong to navigate trade war with new strategies, Paul Chan says in US

Hong Kong will adjust to navigate lingering geopolitical tensions, welcoming new growth in supply chains, financial services and innovation, the finance chief has vowed while promoting the city’s opportunities in the United States. Financial Secretary Paul Chan Mo-po made his remarks at the end of his first in-person visit to Washington since 2019, as a fresh phase of the US-China trade war looms, with Hong Kong caught in the rivalry. “Geopolitical tensions will continue to be there for quite...

Events

6 d. ago Hong Kong will navigate trade war with new strategies, Paul Chan says in US

Hong Kong will successfully navigate protracted geopolitical tensions, serving as a supply chain hub while providing financial services and innovation, the finance chief has said after a visit to the United States where he promoted the city. Financial Secretary Paul Chan Mo-po offered the upbeat assessment in an interview with the Post at the end of his first visit to Washington since 2019, with a fresh phase of the US-China trade war looming and Hong Kong caught up in the rivalry. “Geopolitical...

Events

6 d. ago Trump and Xi’s shock tactics see trade war remain in a stalemate

Blame games, tit-for-tat threats, off-again on-again meetings between US President Donald Trump and Chinese President Xi Jinping, and wild tariff swings seem to be the recent order of the day. According to former government officials and analysts, however, this should come as no surprise – it’s just the price you pay when diplomatic norms are brushed off. In the latest twist in the saga, Trump on Friday swung from tough to conciliatory, appearing to reverse threats made a week earlier to cancel...

Events

7 d. ago Israel, Hamas trade blame over truce violations, Rafah border reopening in limbo

Israel said on Thursday it was preparing for the reopening of Gaza’s Rafah crossing with Egypt to let Palestinians in and out, but set no date as it traded blame with Hamas over violations of the US-mediated ceasefire. A row over the return of bodies of hostages held by Hamas in Gaza retains the potential to upend the truce along with other major planks of the plan yet to be resolved, including disarmament of militants and Gaza’s future governance. Israel demanded that Hamas fulfil its...

Politics