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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.
US President Donald Trump meets Indian Prime Minister Narendra Modi at the White House in Washington on February 13, 2025. Photo: Reuters
India

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

The warming of New Delhi’s ties with Washington has implications for Russia, China and the global dynamics of trade and geopolitical power.

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China trade

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

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China-EU relations

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

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Belt and Road Initiative

Trump wants China out of South America – but Peru’s Beijing-backed port is abuzz

Beijing’s hunger for minerals and raw materials is pushing trade in the region to record levels, even after incidents in Panama and Venezuela.

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A container is lifted by a crane at the Chinese-funded Chancay port in Peru, on October 29, 2024. Photo: AP
SCMP Exclusives

Exclusive | US defends new minerals alliance, rejecting claims it targets China

Washington says the Forge initiative is about securing supply chains against shocks and price coercion, not building an exclusive bloc.

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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-China relations

US Treasury chief warns of China’s push for digital asset dominance

Scott Bessent tells senators the US must pass the Clarity Act to counter Hong Kong’s ‘sandbox’ and maintain global financial leadership.

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US Treasury Secretary Scott Bessent during a Senate Banking Committee hearing on Thursday. Photo: Reuters
Transport and logistics

Panama’s ‘dangerous precedent’: why ports appear pawns as politics top contracts

Panama’s move to void CK Hutchison’s deal fuels fears of broader asset seizures, with analysts warning of rising risks for Chinese operators in the US sphere.

US-China relations

What Xi’s calls with Trump and Putin reveal about China’s balancing act

Beijing holds rare same-day talks with Kremlin and White House as powers face headwinds at home, energy uncertainties and nuclear pact’s end.

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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.

US President Donald Trump leaves the annual meeting of the World Economic Forum in Davos, Switzerland, on January 22. Photo: EPA
Malaysia

Malaysia denies granting US exclusive rare earth access in Trump trade deal

Signed at the Asean Summit with the US president, the deal remains under negotiation as Malaysian PM Anwar seeks further written assurances.

US President Donald Trump (left) and Malaysian Prime Minister Anwar Ibrahim shake hands during the signing of a Cambodia-Thailand peace deal In Kuala Lumpur in October 2025. Photo: Getty Images
Ukraine

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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United States

US pitches critical minerals plan to allies to halt Beijing’s dominance

More than 50 countries encouraged to back US-led framework using price floors and financing to blunt Beijing’s control of hi-tech materials.

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China-Latin America relations

Panama president defends ruling after China slams canal port concession decision

Panamanian President Jose Raul Mulino rejects Chinese criticism, arguing verdict was within Panama’s constitutional and legal framework.

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Panamanian President Jose Raul Mulino emphasised Panama’s commitment to the rule of law and separation of powers after the canal port concession ruling. Photo: AFP
United States

Opinion | Chilling effect of US outbound investment rules will extend beyond China

Outbound investment rules introduced last year are expanding and hardening into law, chilling US investment across Asia’s tech ecosystems.

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US Treasury Secretary Scott Bessent speaks at the USA House at the annual meeting of the World Economic Forum in Davos, Switzerland, on January 21. Photo: AP
China food security

China signals strong soybean imports – what does it mean for food security?

Beijing also vows broader agricultural opening while safeguarding domestic production and farmers.

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Asia-Pacific Economic Cooperation

Xi’s Apec playbook? How China could use new chair role at ‘pivotal juncture’

Hosting the bloc for just the third time in 25 years, China is promoting people-centred policies, infrastructure funding and predictability.

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US-China relations

Top US trade official spells out plan to break China’s grip on critical minerals

Howard Lutnick accuses China of dumping and weaponising supply chains as White House tries to rally allies to its cause.

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US officials (from left) Interior Secretary Doug Burgum, President Donald Trump and Commerce Secretary Howard Lutnick are using various methods to try to reduce American dependence on China’s critical minerals supplies. Photo: AP
Hong Kong economy

CK Hutchison takes Panama to arbitration after court voids canal port rights

Move comes after Beijing called ruling self-sabotaging and warned Panama would pay heavy political and economic price.

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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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Hong Kong economy

Letters | Hong Kong’s economic comeback is the best answer to its critics

Readers discuss the renewed global interest in Hong Kong, and the British prime minister’s visit to China.

A tourist observes Hong Kong’s skyscrapers using binoculars at The Peak Galleria on June 21, 2025. Photo: Eugene Lee
China-Latin America relations

China’s Chalco, Rio Tinto buy Brazil’s CBA for US$886 million to secure minerals

Acquisition of Brazilian flagship aluminium firm reinforces China’s growing footprint in the country’s strategic mineral assets sector.

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A worker checks coiled aluminium plates at a factory in China’s eastern Shandong province. China’s aluminium giant Chalco and Rio Tinto have agreed to acquire a controlling stake in Brazilian flagship aluminium firm CBA. Photo: Imaginechina
US-China relations

Trump unveils US$12 billion push to curb China’s grip on critical minerals

The initiative, dubbed Project Vault, aims to create a commercial stockpile to shield US manufacturers from supply shocks and price swings.

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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.

Yuan

Xi wants yuan’s global punch to match Chinese economic might

Xi Jinping’s wish to turn the yuan into a global reserve currency, and thereby boost China’s economic influence, conflicts with the nation’s capital controls.

Photo: Reuters
China manufacturing

Stern rebuke: China shrugs off 2025 US threats to anchor shipbuilding dominance

Despite a market share dip, Chinese yards extend their commanding lead in key indicators, as high exports and lengthy backlogs signal resilience despite rivals’ gains.

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A vessel is seen under construction at a ship-building facility in China’s Jiangsu province on January 27. Photo: Xinhua
Singapore

Supply chain ‘weaponisation’ tops agenda at Singapore aviation meet

The new UN aviation chief says global cooperation is important to achieve a ‘safer, more sustainable and more competitive’ sector.

Yuan

Why China’s academics turned to de-dollarisation amid trade war, global shocks

Global instability has also pushed a once-niche academic debate into Chinese policy circles.

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