Trump’s fresh tariffs on East Asia, China’s rare earth dominance: SCMP daily highlights
From Trump’s 14-nation tariff package to China eyeing expansion of high-speed rail with neighbours, here’s a round-up from today’s coverage
1. Apparently impatient Trump slaps 25% tariffs on Japan, South Korea
US President Donald Trump, apparently impatient with the slow progress of negotiations, on Monday slapped 25 per cent unilateral tariffs on Japan and South Korea and equal or higher import taxes on several other nations ahead of a self-imposed Wednesday deadline.
2. Rare earth dominance: why China still holds the cards despite global pushback
Beijing’s recent export controls on rare earths have spurred a flurry of international efforts to diversify supply chains and reduce China’s long-standing dominance in critical minerals.
3. ‘Pressure and division’: why Trump’s 14-nation tariff package puts China on edge
When US President Donald Trump signed an executive order on Monday to extend a pause on “reciprocal” tariffs until August 1, it offered little comfort to China. Instead, Beijing’s policymakers may feel increasingly cornered, as Washington also moved to target 14 countries – many of them China’s close trading partners – with tariffs of up to 40 per cent.