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US-China trade war

US-China trade war
Breaking news and analysis on the US-China trade war, its history and timeline, and the impact on the global economy.
A couple kiss next to a Christmas tree in Kyiv, Ukraine, during celebrations before a curfew on December 31. Photo: Reuters
War and conflict

Outside In | 2025 was the year of denial. What now?

Despite the threat of wars, tariffs, climate change and AI, normality has persisted. But it can only be a matter of time before such contradictions explode.

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Hong Kong economy

Could 2026 be the make-or-break year of CK Hutchison’s Panama ports deal?

Open Questions series

Open Questions | Amid US-China trade war truce, ex-diplomat preaches realism

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Investing

Opinion | Rising markets, falling interest rates and more: 5 investment myths for 2026

Investors must be careful in following conventional wisdom this year as several seemingly sure bets might be anything but.

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A pedestrian walks past a stock market indicator board on the final trading day of the year in Tokyo on December 30. Notable outperformers for 2025 included the Nasdaq, Japan’s Nikkei 225, Hong Kong’s Hang Seng Index and South Korea’s semiconductor-rich Kospi. Photo: EPA
China trade

How the ‘world’s supermarket’ rode out Trump’s tariffs – and grew even stronger

Yiwu, one of China’s biggest export hubs, was expected to take a hit from US tariffs. Instead, it has seen trade surge.

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China manufacturing

China’s next decade to cement status as hi-tech manufacturing power: reports

The coming 10 years will see significant advances in cutting-edge sectors, reinforcing industrial dominance, according to new reports.

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US-China relations

China buys two-thirds of pledged US soybeans as 2025 closes

Beijing has moved to reduce tariffs on the crop and lifted import bans on three US exporters after talks between Xi and Trump.

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A combine harvests a soybean field in Tracy, Minnesota, in October. Photo: TNS
China trade

China’s January 1 silver curbs to deepen global crunch amid volatility: analysts

Beijing’s new export-licensing system seen squeezing foreign buyers, pushing price towards US$100 an ounce; Elon Musk joins warning chorus.

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China trade

China imposes beef-import quota, adds over-quota tariffs to guard local industry

From Thursday, over-quota imports from Brazil, Australia, US and other trade partners face new duties to help local producers recover amid price declines.

United States

Opinion | Why Donald Trump will focus on the Fed in 2026

With the US midterm elections looming, the White House seeks victory over inflation and the stimulating effects of lower borrowing costs.

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US President Donald Trump salutes after disembarking from Air Force One at Joint Base Andrews on October 30. Photo: Reuters
China food security

Xi renews call to boost grain output after trade war sharpens food security push

Beijing renews push to fortify domestic crop supplies and modernise agriculture amid a tense geopolitical climate.

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President Xi Jinping has long called for boosting China’s food security, calling it a “political responsibility”. Photo: Xinhua
US-China relations

US envoy hosts Quad meeting in Beijing as PLA’s drills around Taiwan continue

Some analysts, however, say Quad is losing significance under Trump despite this latest show of unity and deterrence by the regional bloc.

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Venezuela

Oil tankers still arriving in Venezuela despite US blockade, data shows

A US blockade on sanctioned vessels has scared many vessel owners, but some still make journey.

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US-China tech war

China’s Shenzhen targets AI in ‘every household’ as US tech rivalry heats up

Local officials want to embed cutting-edge tech across society in coming five-year plan.

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China’s leadership has identified the importance of AI to national development, including in the proposals for the 15th five-year plan. Photo: Shutterstock
US-China relations

China and US need new ways to engage for stable ties: Wang Yi

Speaking at a symposium in Beijing, the foreign minister also criticised remarks Japanese Prime Minister Sanae Takaichi made about Taiwan.

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China’s Foreign Minister Wang Yi arrives to deliver an opening speech at the annual Symposium on the International Situation and China’s Foreign Relations in Beijing on Tuesday. Photo: AP
Year in Review

SCMP Plus year in review 2025 – trade war

As the year comes to a close, SCMP Plus looks back on how the US-China trade war played out.

US-China tech war

China’s lagging basic research calls for core tech pivot, economic adviser urges

Wang Yiming says Beijing must innovate from the ground up to create deterrents against foreign supply cuts, citing missed R&D spending target.

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Made in China 2025

Chinese firms flock to Dubai free zones to navigate trade barriers, expand reach

JD.com, CNBM, carmakers and hundreds of other Chinese companies use the hub to reach consumers across Asia, Africa and Europe.

The Jebel Ali Free Zone at the western end of Dubai. Photo: Handout
SCMP Highlights

Tariffs, truces and Trump: key developments in US-China trade war in 2025

From Trump’s stiff tariffs and China’s response to high-level trade talks, here’s a selection of SCMP stories covering the major milestones.

Asia-Pacific Economic Cooperation

Outside In | As the US pursues unilateralism, China faces challenging task as Apec host

China’s return as Apec chair is an opportunity to show that both the organisation and its message of multilateralism are as relevant as ever.

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Yuan

China expands digital-yuan push to Singapore and Asean trade routes

PBOC pledges to integrate e-CNY into the New International Land-Sea Trade Corridor, boost adoption in Southeast Asia via China’s CIPS payment network.

A customer makes a payment using China’s digital currency, or e-CNY, at a store in Beijing. Photo: Getty Images
China-Latin America relations

China, Russia clash with US at UN over Venezuela oil seizures and naval pressure

Venezuela turns to UN as Trump’s oil crackdown intensifies and Caracas advances a law targeting those in support of naval blockades.

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Sun Lei, China’s deputy permanent representative to the UN, speaks during a Security Council briefing on threats to international peace and security in New York on Tuesday. Venezuela requested a Security Council meeting, citing escalating tensions resulting from “US aggression” against the country. Photo: EPA
Singapore

Explainer | Will US-led ‘Pax Silica’ be a new dawn for the international AI supply chain?

Trump administration aims for deeper technology cooperation on new AI infrastructure with allies.

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Mainland China

US labels Chinese chips an economic threat, but delays tariff impact until 2027

Timeline reflects effort to preserve trade truce with Beijing rather than build leverage through faster import duty escalation, analysts say.

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US-China relations

‘Bad policy’: China’s drone makers to shrug off US ban, analysts say

The addition of foreign drone makers, including those from China, to a US trade blacklist is unlikely to heat up relations, observers said.

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Dai Shuying operates a plant protection drone under the guidance of her grandson Wang Tiantian in east China’s Anhui province. Photo: Xinhua
Technology

Opinion | Forget the US dollar. Watch water and energy resources instead

In our increasingly hi-tech-based economy and financial systems, energy and water resources will be macroeconomically critical.

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Illustration: Craig Stephens
DJI

US adds new models of China’s DJI and all other foreign drones to its blacklist

The FCC move, which does not affect existing DJI models, is a significant escalation in Washington’s battle to crack down on Chinese drones.

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China economy

Opinion | Why China has moved to curb steel exports

China’s pivot to emerging markets has kept its export machine running. But frictions are growing and steel is the most visible flashpoint.

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