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US-ally trade wars

US-ally trade wars
The latest news, analysis and opinion on US-ally trade wars. In-depth analysis, industry insights and expert opinion.
Illustration: Lau Ka-kuen
Greenland

Open Questions | Trump’s ‘imperial’ agenda and the end of the old world order: Luuk van Middelaar

Political theorist says rapid acceleration of the US president’s ‘offensive, almost imperial’ agenda has left Europe disoriented.

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India

India’s trade blitz seeks to keep a sinking global order afloat

India

Opinion | Why the new US-India trade agreement is a big deal

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China trade

China-Canada canola deal faces test as USMCA trade talks loom, insiders warn

Initial shipments bring hope, but ‘Fortress North America’ threat and lack of long-term guarantees leave producers wary of Beijing’s commitment.

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Bottles of Canola Harvest brand canola oil, made by a Canadian agribusiness firm, are seen on the shelf of a grocery store in Beijing. Photo: AP
China-EU relations

Stung by Trump’s policies, German multinationals cautiously pivot towards China

German firms are keen to invest more in China as they shy away from the US, but they still face issues in the Chinese market, business group says.

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South Korea

Coupang data leak threatens South Korea-US ties amid tariff tensions

The breach, which has fuelled public anger, shows how a domestic corporate scandal can escalate into a diplomatic flashpoint.

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World Economic Forum (WEF) in Davos

Opinion | How Trump’s Davos spotlight was upstaged by middle powers breaking away

While they continue to flatter Trump, politicians and businesses are also pursuing new deals and trading partners, diversifying supply chains and exploring ways to reduce dependence on the US.

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US President Donald Trump is photographed by a gaggle of journalists at the World Economic Forum annual meeting in Davos, Switzerland, on January 22. Photo: AP
United States

Opinion | Tariff by tariff, Trump is building a trade wall around the US

Amid the precarity of Trump’s limited economic success at home, trade wars abroad have only sped up the transition to a multipolar world.

Rare earths

From China chokehold to US stockpile, Europe looks for least bad rare earth bet

The EU industry chief secured a ‘commitment’ in Washington for a memorandum on critical minerals, but anxiety is growing.

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US-China trade war

Canada’s former deputy PM hopes for less economic dependency on China in future

Canada’s former deputy prime minister supports economic system ‘in which China works’ but other countries’ vulnerabilities are limited.

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Chrystia Freeland, who served as Canada’s deputy prime minister, says countries must be careful about whom they build economic dependencies on. Photo: The Canadian Press via AP
Diplomacy

Opinion | American allies are finally hedging against American risk

As US policy becomes more self-centred and unpredictable, traditional allies realise their best bet lies with diplomatic diversification.

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Illustration: Craig Stephens
India

Why India may ‘gravitate back’ to US bloc after Trump-Modi tariff deal

Analysts doubt that India can buy more than US$500 billion of US products in a short span of time and stop buying Russian oil.

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United States

Trump lifts Russia-related oil tariffs on India under new trade deal

Under the pact, India’s tariffs have been reduced from 50 per cent to 18 per cent.

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Banking & finance

‘America First’ Fed? Why China economists doubt Trump’s pick can boost US dollar

Kevin Warsh unlikely to deliver long-term rebound while central bank independence still at risk, analysts say.

Kevin Warsh, Trump’s nominee for Fed chair, speaks during the Sohn Investment Conference in New York City, in 2017. Photo: Reuters
China economy

Opinion | US-China rivalry: great powers that don’t make things won’t be great for long

As globalisation falters, it is countries that focus on building productive capacity, not financial excess, that will come out on top.

Children play next to The Bund Bull sculpture in Shanghai on April 9, 2025. Photo: AFP
Diplomacy

Editorial | Starmer’s visit to China highlights benefits of dialogue over confrontation

While several deals were struck on the UK prime minister’s trip, the most important outcome is the willingness of the leaders of both countries to work constructively together.

United States

Outside In | Gradually, then suddenly, the world is waking up to the US threat

Middle powers are pivoting to Beijing and hedging with new partners as China’s economic displacement of the US rapidly expands.

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US-China relations

Opinion | How the world can design a new trade architecture

Even as the US overhauls world trade norms, China’s quiet but influential role in redefining globalisation is impossible to ignore.

Cargo containers are stacked on a ship at the Port of Los Angeles in Los Angeles, on October 15, 2025. Photo: EPA
United States

US trade deficit widens sharply, reversing big pullback lauded by Trump

The US president touted the success of his tariffs after the trade gap fell to an earlier low, but the figure has since boomeranged back.

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Trade

Macroscope | Trump weaponises trade as globalisation becomes more fractured

As recognised by Canada, the fracturing of the global economy is in full swing. Policymakers and businesses should expect it to continue.

US-China relations

Rise in Republicans wary of China as bipartisan unity declines, new survey says

Report found two-thirds of Republicans now likely to view Beijing as a threat to US, compared with 44 per cent of Democrats and Independents.

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A new report that highlights deepening political polarisation in the United States towards China attributes much of it to US President Donald Trump’s tariff regime. Photo: AP
United States

US Treasury chief Bessent warns Canada on trade fights, slams EU-India deal

Official urges calm from Ottawa ahead of trade talks, says EU put trade ahead of Ukraine by easing pressure on India over Russian oil.

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US Treasury Secretary Scott Bessent last week in in Davos, Switzerland. Photo: Reuters
China-UK relations

Opinion | With China visit, Starmer makes clear he’s putting Britain first

The prime minister’s visit to China is a declaration that the UK will no longer be a simple passenger in a contest defined in Washington and Beijing.

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China-EU relations

‘Mother of all trade deals’: EU pivots to India in historic trade shake-up

Brussels diversifies away from China and US risks, while the pact makes India a more attractive place for European firms to sell vehicles and fuel growth.

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US-China relations

US-China cooperation backed by most Americans, new national survey reveals

C100 study finds bipartisan public support for dialogue despite Washington’s tougher stance on visas, research collaboration and tariffs.

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Despite some of US President Donald Trump’s populist rhetoric, a C100 study has found that Americans broadly support Washington and Beijing working more closely together. Photo: AP
Canada

Carney rolls eyes at Bessent, tells Trump he meant what he said at Davos

The PM denies walking back his remarks and says his country plans to diversify away from the US with a dozen new trade deals.

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Canada’s Prime Minister Mark Carney speaks during the World Economic Forum meeting in Davos, Switzerland, on January 20. Photo: Reuters
Donald Trump

‘Taco Trump’ tally: US president carries out only 25% of tariff threats

Analysis finds Trump’s tariff threats often go unfulfilled, or retracted, with markets dismissing them as strategic bluster rather than firm policy.

India

India, EU ‘make history’ as they seal trade pact amid US tariff pressure

Both sides are ‘set to benefit’ from the deal that analysts say will underscore broader shifts under way in the global order.

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