https://www.scmp.com/rss/520119/feed As the country with the biggest economy in the world, the US has immense influence on global trade. Find out the latest on the American economy, its trading relations and the fortunes of its firms here. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Khushboo Razdan Khushboo Razdan US President Donald Trump’s tariffs returned to court on Friday, as a three-judge Court of International Trade panel in New York sharply questioned both sides while weighing the legality of a new set of tariffs he imposed in February, shortly after a Supreme Court ruling declared most of his sweeping levies unlawful. While the judges offered few clues on how they might rule on the Section 122 tariffs, the court has previously rejected business challenges seeking to invalidate Section 301 tariffs... https://www.scmp.com/news/us/economy-trade-business/article/3349717/trumps-tariff-powers-tested-again-judges-question-deficit-justification?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3349717/trumps-tariff-powers-tested-again-judges-question-deficit-justification?utm_source=rss_feed Fri, 10 Apr 2026 21:43:51 +0000 Khushboo Razdan Khushboo Razdan Jeff Winton, a dairy farmer in upstate New York who grows much of the feed for his own cattle, stopped planting corn in 2022 when fertiliser prices spiked. “We just couldn’t afford the input costs,” he recalled. The surge began after Russia’s invasion of Ukraine disrupted exports of nitrogen, urea and other key fertiliser nutrients, with Russia, alongside its ally Belarus, among the world’s leading suppliers. As the war in Ukraine entered its fourth year, a separate conflict involving the US,... https://www.scmp.com/news/china/article/3349712/high-fertiliser-prices-mean-more-soybeans-farmers-and-greater-reliance-china?utm_source=rss_feed https://www.scmp.com/news/china/article/3349712/high-fertiliser-prices-mean-more-soybeans-farmers-and-greater-reliance-china?utm_source=rss_feed Fri, 10 Apr 2026 19:11:24 +0000 Sylvia Ma,Vincent Chow Sylvia Ma,Vincent Chow With US Treasury Secretary Scott Bessent and Federal Reserve chair Jerome Powell reported to have held urgent talks over Anthropic’s latest artificial intelligence model, experts are warning that immediate cybersecurity assessments are needed to avert potential economic damage running into the hundreds of billions of US dollars. Across the Pacific, however, analysts said China’s banks were taking a more cautious approach, as Beijing prioritises financial stability and intensifies monitoring of... https://www.scmp.com/economy/global-economy/article/3349685/china-banks-buffer-against-ai-contagions-us-sweats-over-anthropics-mythos?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3349685/china-banks-buffer-against-ai-contagions-us-sweats-over-anthropics-mythos?utm_source=rss_feed Fri, 10 Apr 2026 15:00:08 +0000 Reuters Reuters A lobbying firm led by one of Donald Trump Jnr’s hunting buddies helped a Chinese company ⁠make its case to a US national security watchdog, public filings show. The case involved a US ⁠start-up that was seeking to have the Chinese firm removed as one of its investors. The watchdog rejected the US firm’s request for ⁠a national security review of the Chinese firm’s investment, according to a document seen by Reuters, handing a rare win to a Chinese company in Washington. The decision has not... https://www.scmp.com/news/world/united-states-canada/article/3349575/chinese-business-hired-lobbying-firm-ties-donald-trump-jnr-washington-win?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3349575/chinese-business-hired-lobbying-firm-ties-donald-trump-jnr-washington-win?utm_source=rss_feed Thu, 09 Apr 2026 23:16:03 +0000 Juan Pablo Sims,Brice Tseen Fu Lee Juan Pablo Sims,Brice Tseen Fu Lee The Iran war has been framed as a Middle East crisis with global energy consequences. That is true, but incomplete. It is also reshaping China’s strategic map. The disruption in the Strait of Hormuz, the jump in oil prices and the shock to shipping and energy markets have reinforced a lesson for Beijing: vulnerability begins with concentration. When one region becomes more unstable, the value of diversified suppliers, routes and external partners rises. That is why Latin America matters more to... https://www.scmp.com/opinion/china-opinion/article/3349271/middle-east-crisis-pushing-china-deepen-latin-america-ties?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3349271/middle-east-crisis-pushing-china-deepen-latin-america-ties?utm_source=rss_feed Thu, 09 Apr 2026 21:30:08 +0000 Bloomberg Bloomberg US President Donald Trump said he plans to impose a 20 per cent tariff on all cars imported from the European Union unless the trade bloc “soon” removes import duties and other barriers to US goods, escalating global trade tensions. “Based on the Tariffs and Trade Barriers long placed on the US and it great companies and workers by the European Union, if these Tariffs and Barriers are not soon broken down and removed, we will be placing a 20% Tariff on all of their cars coming into the US. Build... https://www.scmp.com/news/world/united-states-canada/article/3349566/trumps-tariff-threat-european-cars-escalates-global-trade-tensions?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3349566/trumps-tariff-threat-european-cars-escalates-global-trade-tensions?utm_source=rss_feed Thu, 09 Apr 2026 17:44:44 +0000 Marco Vicenzino Marco Vicenzino The two-week ceasefire between the United States and Iran is a real diplomatic breakthrough. It has reopened the Strait of Hormuz, triggered a relief rally in global markets and eased the immediate fear of a spiralling energy shock. But its strategic significance lies less in the relief it has produced than in the uncertainty it leaves behind. The truce is time-limited, tied to negotiations and built around temporary safe passage rather than a settled regional order. The ceasefire terms and... https://www.scmp.com/opinion/asia-opinion/article/3349425/asia-us-iran-ceasefire-offers-little-relief-and-much-uncertainty?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3349425/asia-us-iran-ceasefire-offers-little-relief-and-much-uncertainty?utm_source=rss_feed Thu, 09 Apr 2026 14:30:10 +0000 Khushboo Razdan,Orange Wang Khushboo Razdan,Orange Wang Even as the White House lauded China’s role in securing a long-awaited ceasefire that lifted global markets, US President Donald Trump reignited trade tensions by threatening a new 50 per cent tariff on countries supplying weapons to Iran, while Tehran kept the Strait of Hormuz closed and warned it could abandon the deal if Israeli attacks on Lebanon continue. “There were conversations that took place between top levels of our government and China’s government,” Trump’s spokeswoman Karoline... https://www.scmp.com/news/china/diplomacy/article/3349416/trump-warns-50-cent-tariffs-arms-suppliers-iran?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3349416/trump-warns-50-cent-tariffs-arms-suppliers-iran?utm_source=rss_feed Wed, 08 Apr 2026 12:11:08 +0000 Khushboo Razdan Khushboo Razdan Just weeks before a planned summit between US President Donald Trump and Chinese leader Xi Jinping, Washington’s top trade negotiator signalled a cautious, tightly managed approach to China ties, ruling out a pre-summit visit to Beijing, favouring continued virtual engagement, and indicating no new push to expand bilateral investment. US Trade Representative Jamieson Greer indicated on Tuesday that preparatory talks with Chinese counterparts would take place virtually, ruling out an in-person... https://www.scmp.com/news/us/article/3349312/only-virtual-talks-no-new-investment-push-xi-trump-summit-greer?utm_source=rss_feed https://www.scmp.com/news/us/article/3349312/only-virtual-talks-no-new-investment-push-xi-trump-summit-greer?utm_source=rss_feed Tue, 07 Apr 2026 21:03:49 +0000 Zhang Zhipeng Zhang Zhipeng The US-Israeli strikes on Iran and ensuing conflagration offer a window into how the US-led order works. For all its contributions, it functions like an air conditioner – cooling the American centre by pumping hot air into the periphery. Aggressive interest rate hikes export inflation to emerging markets. Proxy wars outsource geopolitical risk to distant theatres. The United States stays cool while the Global South absorbs the brunt of the heat. But the vents are closing: developing nations are... https://www.scmp.com/opinion/asia-opinion/article/3348447/global-south-nations-are-insulating-themselves-heat-us-actions?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3348447/global-south-nations-are-insulating-themselves-heat-us-actions?utm_source=rss_feed Sun, 05 Apr 2026 21:30:08 +0000 Xiaofei Xu,Frank Chen Xiaofei Xu,Frank Chen As China and the United States wrapped up their sixth and most recent round of trade talks in Paris this March, a minor mishap briefly stole the spotlight. A sudden gust of wind toppled two American flags in the background, where journalists were waiting for US Treasury Secretary Scott Bessent. Officials rushed to tape them to the wall – a fitting tableau for a trade war that, one year on, is patched together by a truce yet remains far from resolved. At their respective press appearances,... https://www.scmp.com/economy/global-economy/article/3348826/us-china-trade-war-1-year-who-really-holds-upper-hand?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348826/us-china-trade-war-1-year-who-really-holds-upper-hand?utm_source=rss_feed Thu, 02 Apr 2026 22:00:14 +0000 Richard Harris Richard Harris The mighty Zambezi River has its source in northern Zambia, and flows north, west, south, then east, tracing borders for several countries including Zimbabwe. As the river enters Zimbabwe, the water molecules begin to flow faster, unknowingly energised – developing first into a rush, then eventually a torrent as they plunge down the Victoria Falls. This is an excellent analogy of the extremes of stock market price movements. In a stock market crash, prices move slowly, then very fast. My... https://www.scmp.com/opinion/hong-kong-opinion/article/3348698/us-hong-kong-theres-no-excuse-insider-trading?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3348698/us-hong-kong-theres-no-excuse-insider-trading?utm_source=rss_feed Thu, 02 Apr 2026 21:30:10 +0000 Khushboo Razdan,Yuanyue Dang Khushboo Razdan,Yuanyue Dang Direct trade between China and the United States continues its shrinking trend, new US government data showed on Thursday, as the anniversary of “Liberation Day” highlights how last year’s tariff escalations deepened tensions between the two global powers. The figures come ahead of a planned leaders’ meeting in Beijing next month, where both sides are expected to explore ways to stabilise relations after a period of renewed economic strain, and just hours before he announced a fresh set of... https://www.scmp.com/news/us/article/3348857/trump-tariffs-cast-shadow-us-china-trade-shrinks-ahead-leaders-meet?utm_source=rss_feed https://www.scmp.com/news/us/article/3348857/trump-tariffs-cast-shadow-us-china-trade-shrinks-ahead-leaders-meet?utm_source=rss_feed Thu, 02 Apr 2026 16:25:26 +0000 Kandy Wong Kandy Wong An oil-supply shock caused by the US-Israel conflict with Iran is complicating US President Donald Trump’s already fragile mineral-alliance strategy, analysts said, given the acute vulnerability of energy-intensive rare earth refining and critical metal supply chains to such disruption. Oil and gas are essential for the critical mineral industry, according to analysts. Hydrometallurgical extraction for rare earth elements and other metals, such as nickel and cobalt, relies on a suite of chemical... https://www.scmp.com/economy/global-economy/article/3348809/trumps-fragile-ex-china-mineral-alliance-plan-faces-cost-surge-amid-iran-war-oil-shock?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348809/trumps-fragile-ex-china-mineral-alliance-plan-faces-cost-surge-amid-iran-war-oil-shock?utm_source=rss_feed Thu, 02 Apr 2026 12:00:11 +0000 Ralph Jennings Ralph Jennings Andrew Tilton, chief Asia-Pacific economist at Goldman Sachs, speaks to the South China Morning Post about the long-term future of China’s economy after the “two sessions” in Beijing and ahead of an expected Xi-Trump summit – all during an oil crisis sparked by the US-Israel war against Iran. SCMP Plus readers get early access to articles in the Open Questions series. What impact will the oil shock arising from the Iran war have on the growth of Asian economies this year? Asia is greatly... https://www.scmp.com/plus/economy/china-economy/article/3348772/goldman-sachs-economist-sees-iran-war-testing-chinas-self-reliance?utm_source=rss_feed https://www.scmp.com/plus/economy/china-economy/article/3348772/goldman-sachs-economist-sees-iran-war-testing-chinas-self-reliance?utm_source=rss_feed Thu, 02 Apr 2026 07:30:04 +0000 SCMP SCMP We have selected seven of the most interesting and important news stories covering Latin American relations from the past few weeks. If you would like to see more of our reporting, please consider subscribing. 1. As Trump ramps up pressure on Cuba, China has ‘very limited options’ As Washington stepped up rhetoric and pressure on Cuba after the start of its campaign in Iran, Beijing found itself torn between geopolitical reality and ideological affinity. Read the full story here. 2. US threats... https://www.scmp.com/news/china/article/3348581/us-threats-new-chile-leader-china-tariff-mexico-7-latin-america-relations-reads?utm_source=rss_feed https://www.scmp.com/news/china/article/3348581/us-threats-new-chile-leader-china-tariff-mexico-7-latin-america-relations-reads?utm_source=rss_feed Wed, 01 Apr 2026 15:00:10 +0000 Carol Yang Carol Yang Lawmakers in the United States have urged the administration of US President Donald Trump to take action against China’s alleged sanctioned oil imports by blacklisting port operators and blocking complex settlement networks. Despite Washington’s temporary easing of sanctions on Russian and Iranian oil to relieve price pressures from the US-Israeli war in Iran, the “House Select Committee on Strategic Competition between the United States and the Chinese Communist Party” has released a 41-page... https://www.scmp.com/economy/china-economy/article/3348668/us-house-committee-calls-major-crackdown-chinas-alleged-sanctioned-oil-imports?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348668/us-house-committee-calls-major-crackdown-chinas-alleged-sanctioned-oil-imports?utm_source=rss_feed Wed, 01 Apr 2026 09:10:31 +0000 Chris Pereira Chris Pereira Against a backdrop of war and global uncertainty, Chinese Premier Li Qiang delivered a clear message at the recent China Development Forum: China is committed to being a “harbour of stability” for the world. The forum, which drew CEOs from global companies such as Siemens, Nestlé and Apple, signalled to the world that while the United States flails, China offers reliability and steady governance. Even before the US-Israeli war on Iran, however, my inbox was already telling me that something was... https://www.scmp.com/opinion/china-opinion/article/3348213/surge-global-business-interest-chinas-harbour-stability?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3348213/surge-global-business-interest-chinas-harbour-stability?utm_source=rss_feed Wed, 01 Apr 2026 08:30:08 +0000 Alex Lo Alex Lo Why didn’t China develop its own scientific and industrial revolutions when it made so many discoveries and advances over millennia? That is often called “Needham’s question”, named after the historian of Chinese science and tech Joseph Needham. Why didn’t China develop capitalism during the Song dynasty when it was so close to achieving a breakthrough with trade, commerce, currency and semi-industrialisation, and an emerging merchant class? The Hungarian-French sinologist Etienne Balazs, among... https://www.scmp.com/opinion/china-opinion/article/3348381/why-china-always-misunderstood-and-misrepresented?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3348381/why-china-always-misunderstood-and-misrepresented?utm_source=rss_feed Wed, 01 Apr 2026 01:30:08 +0000 Sylvia Ma Sylvia Ma Oil prices have surged amid the US-Israel conflict with Iran, with attacks having disrupted shipping through the Strait of Hormuz – a critical chokepoint that roughly one-fifth of the world’s daily oil consumption moves through. With memories of 1970s stagflation still lingering, many are asking whether this is the start of another major oil crisis. Below is a concise look at prior shocks and what history suggests today. What happened during the 1970s oil shocks The first oil crisis in 1973-74... https://www.scmp.com/economy/global-economy/article/3348425/how-hormuz-attacks-stoke-oil-shock-fears-and-memories-1970s-stagflation?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348425/how-hormuz-attacks-stoke-oil-shock-fears-and-memories-1970s-stagflation?utm_source=rss_feed Mon, 30 Mar 2026 12:30:14 +0000 Kandy Wong Kandy Wong Professor Kenneth Rogoff of Harvard University has repeatedly warned that the US dollar is approaching a crisis of legitimacy. Having written extensively on the global recession in the late 2000s, Rogoff has turned his focus to the US currency’s increasingly unstable place at the top of the world’s financial hierarchy. A former chief economist at the International Monetary Fund and a chess grandmaster, he published Our Dollar, Your Problem in May last year. In this interview, Rogoff elaborates... https://www.scmp.com/economy/china-economy/article/3348156/why-kenneth-rogoff-thinks-chinas-yuan-will-be-reserve-currency-next-5-years?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348156/why-kenneth-rogoff-thinks-chinas-yuan-will-be-reserve-currency-next-5-years?utm_source=rss_feed Sun, 29 Mar 2026 22:00:18 +0000 Xiaofei Xu Xiaofei Xu Beijing has launched two trade barrier investigations into the United States in response to a pair of Section 301 probes that allege unfair trade practices by China and other economies and could pave the way for Washington to reimpose higher tariffs. According to the Ministry of Commerce, the investigations would focus on US measures deemed harmful to global industrial and supply chains, including those that obstruct trade in green products. The ministry said in a statement on Friday that... https://www.scmp.com/economy/global-economy/article/3348193/china-launches-investigations-us-trade-practices-why-now?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3348193/china-launches-investigations-us-trade-practices-why-now?utm_source=rss_feed Fri, 27 Mar 2026 14:30:08 +0000 Ralph Jennings Ralph Jennings Shandong Airlines, a subsidiary of flagship carrier Air China, has announced plans to lease 10 Boeing 737 aircraft, signalling China’s continued demand for the American jets as it looks to refresh an ageing fleet. The airline will pay a total fee of 2.88 billion yuan (US$405 million), with the aircraft to be delivered in batches over the coming two years, according to a notice Air China issued to the Shanghai Stock Exchange on Thursday. The deals include 10-year leases for three Boeing 737-800... https://www.scmp.com/economy/china-economy/article/3348170/air-china-subsidiary-lease-10-boeing-jets-deals-worth-about-us400-million?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3348170/air-china-subsidiary-lease-10-boeing-jets-deals-worth-about-us400-million?utm_source=rss_feed Fri, 27 Mar 2026 14:00:09 +0000 David Dodwell David Dodwell In these turbulent times, focusing on the World Trade Organization’s 14th ministerial conference (MC14) in Yaounde, Cameroon, is a bit like trying to focus on a picnic sitting alongside a bar brawl, or listening to a lesson in pruning bonsai while a lumberjack takes a chainsaw to a giant redwood. But try we must. Even if the deliverables are meagre and may take years to materialise, the symbolism of Yaounde points to a possible future very different from today’s chaotic hegemonic unilateralism –... https://www.scmp.com/opinion/world-opinion/article/3348028/wto-meeting-cameroon-signals-rise-world-minus-one-order?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3348028/wto-meeting-cameroon-signals-rise-world-minus-one-order?utm_source=rss_feed Fri, 27 Mar 2026 08:30:08 +0000 Andy Xie Andy Xie The Iran war’s oil shock has dramatically increased the security risk for oil-dependent countries, incentivising a turn towards renewable energy. This impact will outlast the war and oil price spikes because the world knows this war will recur. China will be the biggest beneficiary and its exports are likely to do very well this year, offsetting losses from buying higher-priced oil. A fifth of the global supply of oil and liquefied natural gas plus a third of seaborne fertilisers traditionally... https://www.scmp.com/opinion/china-opinion/article/3347634/oil-shocked-world-turns-renewables-china-will-reap-rewards?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347634/oil-shocked-world-turns-renewables-china-will-reap-rewards?utm_source=rss_feed Thu, 26 Mar 2026 12:30:07 +0000 Kandy Wong Kandy Wong Professor Kenneth Rogoff of Harvard University has repeatedly warned that the US dollar is approaching a crisis of legitimacy. Having written extensively on the global recession in the late 2000s, Rogoff has turned his focus to the US currency’s increasingly unstable place at the top of the world’s financial hierarchy. A former chief economist at the International Monetary Fund and a chess grandmaster, he published Our Dollar, Your Problem in May last year. In this interview, Rogoff elaborates... https://www.scmp.com/plus/news/china/money-wealth/article/3347930/euro-chinese-yuan-end-us-dollar-dominance-top-economist-says?utm_source=rss_feed https://www.scmp.com/plus/news/china/money-wealth/article/3347930/euro-chinese-yuan-end-us-dollar-dominance-top-economist-says?utm_source=rss_feed Thu, 26 Mar 2026 02:31:08 +0000 Xinyi Wu,Ji Siqi Xinyi Wu,Ji Siqi China is still on course to overtake the United States as the world’s largest economy in the next decade, as the global balance of power pivots towards Asia and America pursues a string of “self-defeating” policies, a prominent academic has said. While the Chinese economy is undergoing a structural transition, the current challenges facing the US are more severe, according to Li Cheng, the founding director of the University of Hong Kong’s Centre on Contemporary China and the World. The US is... https://www.scmp.com/economy/china-economy/article/3347863/china-still-track-supplant-us-worlds-no-1-economy-10-years-academic?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347863/china-still-track-supplant-us-worlds-no-1-economy-10-years-academic?utm_source=rss_feed Wed, 25 Mar 2026 14:00:10 +0000 James David Spellman James David Spellman As war in the Middle East escalates, the financial fallout extends beyond energy price and supply-chain disruptions. Vulnerabilities in the US$3 trillion-plus global private-credit market are accelerating, driving investors to safe havens, while global finance undergoes a rapid transformation. China, the world’s largest creditor to developing countries, will feel the repercussions. This is the first real stress test confronting the vast lending empire. A meltdown was inevitable; only the timing... https://www.scmp.com/opinion/china-opinion/article/3347602/why-global-private-credit-meltdown-would-hit-china-hard?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3347602/why-global-private-credit-meltdown-would-hit-china-hard?utm_source=rss_feed Wed, 25 Mar 2026 08:30:09 +0000 Nong Hong Nong Hong Gulf exporters are scrambling to bypass the Strait of Hormuz after Iran choked off most of the maritime traffic in one of the world’s most critical energy corridors. Saudi Arabia and the United Arab Emirates rushed to divert exports through overland pipelines; officials warned that even naval escorts could not guarantee safe passage. About a fifth of the world’s oil and liquefied natural gas (LNG) trade passed through this narrow waterway. The immediate shock was felt in the Gulf. The strategic... https://www.scmp.com/opinion/world-opinion/article/3347190/conflict-middle-east-boosting-value-arctic-windfall?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3347190/conflict-middle-east-boosting-value-arctic-windfall?utm_source=rss_feed Tue, 24 Mar 2026 21:30:08 +0000 Frank Chen Frank Chen A report from a leading Beijing university has revived discussions about the “optimal size” of China’s foreign exchange reserves – with a focus on US Treasuries – calling for its world-leading forex holdings to be trimmed to a “moderately ample” level amid the drive to promote further international use of the yuan. The report, written by Sun Jiaqi from Renmin University’s International Monetary Institute and issued on March 13, examined possible ways forward and their implications for China,... https://www.scmp.com/economy/china-economy/article/3347335/global-use-yuan-expands-questions-resurface-about-chinas-world-leading-forex-reserves?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3347335/global-use-yuan-expands-questions-resurface-about-chinas-world-leading-forex-reserves?utm_source=rss_feed Sun, 22 Mar 2026 14:00:08 +0000 Agence France-Presse Agence France-Presse The US Treasury on Friday temporarily lifted sanctions on Iranian oil already loaded onto vessels, in Washington’s latest step to stem a supply crisis over the Middle East war. The authorisation allows for the delivery and sale of Iranian crude oil and other petroleum products loaded onto ships before March 20, and will last through April 19, the Treasury said in a statement. The move by the Office of Foreign Assets Control, which Treasury Secretary Scott Bessent said on Thursday was under... https://www.scmp.com/news/us/economy-trade-business/article/3347401/us-approves-sale-iranian-oil-sea-move-ease-crude-supply-crisis?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3347401/us-approves-sale-iranian-oil-sea-move-ease-crude-supply-crisis?utm_source=rss_feed Sat, 21 Mar 2026 00:55:33 +0000 Xinmei Shen Xinmei Shen The administration of US President Donald Trump on Friday unveiled an artificial intelligence (AI) policy framework aimed at curbing state-level restrictions on innovation, as it urged Congress to address AI risks and reinforce the US edge in an intensifying technology race with China. Congress should pre-empt state AI laws that “impose undue burdens”, to ensure a national standard instead of “fifty discordant ones”, Trump said in a new legislative recommendation named the National AI... https://www.scmp.com/news/us/diplomacy/article/3347396/trump-administration-moves-unify-ai-rules-bolster-edge-over-china?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3347396/trump-administration-moves-unify-ai-rules-bolster-edge-over-china?utm_source=rss_feed Fri, 20 Mar 2026 19:43:27 +0000 Mia Nurmamat Mia Nurmamat China’s exports of rare earth permanent magnets to the United States continue to fall, at a time when Washington and its allies are stepping up efforts to reduce reliance on the country’s critical mineral supply chains. Shipments of permanent magnets to the US totalled 994 tonnes in January and February, down nearly 22.5 per cent year on year, according to data released on Friday by China’s General Administration of Customs. This marked the seventh consecutive month of decline. Over the two... https://www.scmp.com/economy/global-economy/article/3347326/chinas-rare-earth-magnet-exports-us-keep-falling-europe-gains?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347326/chinas-rare-earth-magnet-exports-us-keep-falling-europe-gains?utm_source=rss_feed Fri, 20 Mar 2026 13:30:09 +0000 David Dodwell David Dodwell If there is a thread that provides coherence to Donald Trump’s mad emperorship, it is the frenetic invention of new, evermore dramatic diversions: no week can be allowed to pass without new melodrama that erases the chaotic melodramas of weeks past. Nor can a week be allowed to pass without the seeds being sown for next week’s melodramas. This week it is Iran, and the computer-gaming unreality of a scorched-earth US-Israeli bombardment that has generated convulsions across economies in the... https://www.scmp.com/opinion/world-opinion/article/3347181/us-section-301-tariffs-set-trigger-fresh-wave-trade-disruption?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3347181/us-section-301-tariffs-set-trigger-fresh-wave-trade-disruption?utm_source=rss_feed Fri, 20 Mar 2026 08:30:08 +0000 Frank Chen Frank Chen The United States’ rapidly mounting sovereign debt pile – which reached an unprecedented US$39 trillion on Wednesday – is becoming “alarmingly unsustainable” and a potential threat to the global economy, with spending likely to spiral even further amid the Iran war, analysts said. It remains unclear whether US President Donald Trump has the political will to rein in borrowing, despite promising to eliminate the national debt while campaigning for office in 2016, and other countries including... https://www.scmp.com/economy/global-economy/article/3347192/us-federal-debt-becoming-alarmingly-unsustainable-iran-war-fuels-spending-analysts?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347192/us-federal-debt-becoming-alarmingly-unsustainable-iran-war-fuels-spending-analysts?utm_source=rss_feed Fri, 20 Mar 2026 02:00:10 +0000 Bernard Chan Bernard Chan By the time this column appears, the world will feel very different from when my previous column appeared earlier this month. In just days, a conflict that some in Washington seemed to believe would quickly topple Iran’s leadership has instead become a potentially long and uncertain war, with little clarity on how or when it will end. The front lines will have shifted, more oil tankers will have been stuck at sea and more flights cancelled, and there will almost certainly have been further... https://www.scmp.com/opinion/world-opinion/article/3347056/iran-war-revives-pandemic-era-shocks-and-may-go-further?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3347056/iran-war-revives-pandemic-era-shocks-and-may-go-further?utm_source=rss_feed Fri, 20 Mar 2026 01:30:09 +0000 Xinmei Shen Xinmei Shen US crypto advocates have increasingly pointed to competition with China’s new interest-bearing e-CNY to demand legislative clarity on stablecoin yields, but China is charting a completely different course for the future of digital money, experts said. “The world’s two largest economies are not so much competing in digital assets as they are pursuing very different strategies,” said Andrew Fei, a partner at law firm King & Wood Mallesons in Hong Kong. Winston Ma, adjunct professor and executive... https://www.scmp.com/news/us/article/3347221/us-china-split-digital-money-deepens-stablecoin-debate-stalls-clarity-act?utm_source=rss_feed https://www.scmp.com/news/us/article/3347221/us-china-split-digital-money-deepens-stablecoin-debate-stalls-clarity-act?utm_source=rss_feed Thu, 19 Mar 2026 17:22:14 +0000 Lucy Quaggin Lucy Quaggin Beijing’s global pharmaceutical push is following a playbook seen in rare earths, semiconductors and electric vehicles, US lawmakers said on Wednesday, as concerns grow over the United States’ reliance on Chinese drug ingredients. “China is cornering the market on our medicines – from the supply of generic drugs that Americans depend on every day, to the cutting-edge biotech pipeline that will determine who leads medicine in the years and decades ahead,” said John Moolenaar, the chair of the... https://www.scmp.com/news/china/diplomacy/article/3347087/fears-grow-over-us-drug-supplys-rising-dependence-chinese-ingredients?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3347087/fears-grow-over-us-drug-supplys-rising-dependence-chinese-ingredients?utm_source=rss_feed Wed, 18 Mar 2026 21:33:43 +0000 Khushboo Razdan Khushboo Razdan US President Donald Trump has announced a temporary 60-day suspension of the Jones Act, the century-old law that mandates cargo moving between domestic ports be transported on vessels built, operated and staffed by American citizens or permanent residents. The move comes in response to the blockade of the Strait of Hormuz – a key chokepoint – amid the escalating US-Israeli war against Iran, which has triggered the most severe global oil supply disruption in recent history. The waiver allows... https://www.scmp.com/news/us/article/3347081/trump-issues-60-day-jones-act-waiver-amid-fuel-crunch-and-us-israel-war-iran?utm_source=rss_feed https://www.scmp.com/news/us/article/3347081/trump-issues-60-day-jones-act-waiver-amid-fuel-crunch-and-us-israel-war-iran?utm_source=rss_feed Wed, 18 Mar 2026 16:25:53 +0000 Lucy Quaggin,Fan Chen Lucy Quaggin,Fan Chen US President Donald Trump has said a planned meeting with his counterpart Xi Jinping in Beijing would be delayed by at least “five or six weeks”, as China noted the two sides would remain in communication about the visit. “We’re working with China. They were fine with it … I look forward to seeing President Xi. He looks forward to seeing me, I think,” the American leader told reporters at the White House on Tuesday. The Chinese embassy in Washington did not confirm Trump’s timeline. “China and... https://www.scmp.com/news/us/article/3346937/trump-confirms-delay-beijing-meeting-xi-amid-iran-conflict?utm_source=rss_feed https://www.scmp.com/news/us/article/3346937/trump-confirms-delay-beijing-meeting-xi-amid-iran-conflict?utm_source=rss_feed Tue, 17 Mar 2026 19:19:15 +0000 Xiaofei Xu,Kandy Wong Xiaofei Xu,Kandy Wong With US President Donald Trump’s trip to China postponed and the countries’ recent trade negotiations in Paris ending with no apparent breakthroughs, analysts said the world’s two largest economies are likely to hold another round of talks before Trump touches down in Beijing. “We can see this as more of a pause than a breakthrough overall. This resembles ‘unfinished business’ between both sides,” said James Downes, director of the Europe-Asia programme at the Centre for Explanatory Research and... https://www.scmp.com/economy/global-economy/article/3346908/trumps-china-trip-limbo-further-trade-talks-loom-analysts?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346908/trumps-china-trip-limbo-further-trade-talks-loom-analysts?utm_source=rss_feed Tue, 17 Mar 2026 13:00:13 +0000 Haining Gao Haining Gao The Trump administration has initiated a series of sweeping trade investigations that could lead to the imposition of fresh tariffs after the US Supreme Court struck down its previous tariffs. The US trade representative (USTR) announced two new investigations under Section 301 of the Trade Act of 1974, including one targeting alleged excess manufacturing capacity, which opened for public comment on March 17. Section 301 The USTR investigations cover at least 60 economies. US Trade... https://www.scmp.com/plus/news/us/economy-trade-business/article/3346818/us-section-301-trade-investigations?utm_source=rss_feed https://www.scmp.com/plus/news/us/economy-trade-business/article/3346818/us-section-301-trade-investigations?utm_source=rss_feed Tue, 17 Mar 2026 02:51:07 +0000 Khushboo Razdan,Xinmei Shen Khushboo Razdan,Xinmei Shen China said Tuesday it remained “in communication” with the United States over President Donald Trump’s visit to Beijing, after Trump said he had requested a delay of about a month because of the ongoing war with Iran. “China and the US are in communication on the timing of President Trump’s visit to China,” foreign ministry spokesman Lin Jian said when asked to comment on Trump’s remarks about the much-anticipated visit. When pressed further about what dates were under discussion, Lin said he... https://www.scmp.com/news/us/article/3346807/trump-pressures-china-over-hormuz-experts-see-possible-delay-beijing-summit?utm_source=rss_feed https://www.scmp.com/news/us/article/3346807/trump-pressures-china-over-hormuz-experts-see-possible-delay-beijing-summit?utm_source=rss_feed Mon, 16 Mar 2026 20:30:00 +0000 Igor Patrick Igor Patrick A United States diplomat has told Brazilian port industry executives that Washington does not want a Chinese company to win the concession for a major container terminal in Santos, the largest port in Latin America, in the latest sign that the race for one of Brazil’s most prized infrastructure assets has become a front in the broader rivalry between Washington and Beijing. Kevin Murakami, the US consul-general in Sao Paulo, made the comments on March 5, at an event organised by Grupo A Tribuna,... https://www.scmp.com/news/us/article/3346804/washington-signals-it-wants-china-kept-out-brazils-largest-port-auction?utm_source=rss_feed https://www.scmp.com/news/us/article/3346804/washington-signals-it-wants-china-kept-out-brazils-largest-port-auction?utm_source=rss_feed Mon, 16 Mar 2026 19:12:22 +0000 Xiaofei Xu Xiaofei Xu China and the US wrapped up their sixth round of trade talks in Paris on Monday, with the agenda ranging from a possible extension of bilateral tariff and non-tariff measures as well as bilateral investment. “China and the US conducted deep, frank and constructive consultations,” Chinese vice commerce minister Li Chenggang said. Both sides agreed to “continue to maintain the stability of tariffs” and discussed the possibility of establishing a mechanism for promoting bilateral investment, said... https://www.scmp.com/economy/global-economy/article/3346787/china-and-us-end-trade-talks-doubts-form-over-trump-visit?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346787/china-and-us-end-trade-talks-doubts-form-over-trump-visit?utm_source=rss_feed Mon, 16 Mar 2026 12:48:53 +0000 Ralph Jennings Ralph Jennings US President Donald Trump’s reported threat that he may postpone a long-awaited visit to China – unless Beijing helps unblock the Iran-controlled Strait of Hormuz – may put the current trade talks in Paris at risk by sidelining earlier priorities and potential deals, analysts say. As the US-Israeli war in Iran enters its third week and disrupts global energy markets, Trump has reportedly urged Beijing to send warships to help reopen the strait and ease oil shipments. About 20 per cent of the... https://www.scmp.com/economy/global-economy/article/3346784/why-trumps-push-china-help-reopen-strait-hormuz-may-hurt-trade-talks?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3346784/why-trumps-push-china-help-reopen-strait-hormuz-may-hurt-trade-talks?utm_source=rss_feed Mon, 16 Mar 2026 12:30:11 +0000 Tian Shichen Tian Shichen With the Middle East ablaze and war in Ukraine showing no sign of respite, a stark new consensus is hardening in Paris, London and Berlin that Europe must rearm. Recently, French President Emmanuel Macron signalled a pivotal shift in deterrence by announcing an increase in the nation’s nuclear warheads and a “forward deterrence” plan. This follows a rare joint appeal from the British and German defence chiefs, who urged Europeans to build a moral and strategic case for a massive surge in... https://www.scmp.com/opinion/world-opinion/article/3346554/europe-says-it-must-rearm-what-end?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3346554/europe-says-it-must-rearm-what-end?utm_source=rss_feed Mon, 16 Mar 2026 12:30:09 +0000 Denis Simon Denis Simon With the conclusion of China’s annual parliamentary “two sessions” meetings, emerging policy priorities suggest its relationship with the United States is entering a new technological era. This year’s government work report set an economic growth target of 4.5 to 5 per cent and announced increased fiscal support for science and technology, including a 10 per cent funding rise for research and development and over 16 per cent for basic research. More than routine budget adjustments, these figures... https://www.scmp.com/opinion/china-opinion/article/3346402/two-sessions-signals-china-us-tech-contest-entering-new-era?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3346402/two-sessions-signals-china-us-tech-contest-entering-new-era?utm_source=rss_feed Sun, 15 Mar 2026 12:30:07 +0000 Xiaofei Xu Xiaofei Xu Senior officials from China and the United States have started a new round of trade talks in Paris, as the two sides seek to pave the way for US President Donald Trump’s expected visit to Beijing later this month. The delegations – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent – arrived at the headquarters of the Organisation for Economic Co-operation and Development (OECD) on Sunday. Talks began at 10.05am local time, according to a source familiar with the... https://www.scmp.com/economy/china-economy/article/3346652/china-and-us-begin-fresh-round-trade-talks-paris?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346652/china-and-us-begin-fresh-round-trade-talks-paris?utm_source=rss_feed Sun, 15 Mar 2026 08:53:39 +0000 Xiaofei Xu Xiaofei Xu Trade talks between China and the United States in Paris this weekend are likely to focus on setting the scene for the Beijing summit between President Xi Jinping and US President Donald Trump later this month, analysts said, downplaying the prospects of any significant breakthroughs. Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent are expected to discuss potential deals on tariffs, investment, and trade in soybeans and rare earths, which would be presented as deliverables for the... https://www.scmp.com/economy/china-economy/article/3346505/us-china-trade-talks-what-expect-senior-officials-meet-paris?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3346505/us-china-trade-talks-what-expect-senior-officials-meet-paris?utm_source=rss_feed Fri, 13 Mar 2026 15:00:08 +0000