logo
US' ‘anti-Beijing trade plan', little-known China oversupply issue: SCMP daily highlights

US' ‘anti-Beijing trade plan', little-known China oversupply issue: SCMP daily highlights

Catch up on some of SCMP's biggest China stories of the day. If you would like to see more of our reporting, please consider
subscribing
The United States has struck new trade deals with Indonesia and the Philippines, in a move analysts say could indirectly undercut China by reshaping regional supply chains and tapping rare earth reserves – even if Beijing is not explicitly targeted.
Six university students drowned in an industrial tank during a field trip to a mining operation owned by China's most prestigious gold producing company, according to state news agency Xinhua.
China released ethical guidelines for autonomous driving technology on Wednesday that said automated driving systems 'must demonstrate a high degree of respect for human life and actively seek effective strategies to minimise harm'.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump to impose 25% tariff on India from August 1, adding penalty for Russia ties
Trump to impose 25% tariff on India from August 1, adding penalty for Russia ties

South China Morning Post

time4 hours ago

  • South China Morning Post

Trump to impose 25% tariff on India from August 1, adding penalty for Russia ties

US President Donald Trump said on Wednesday that he would impose a 25 per cent tariff on goods from India, plus an additional import tax because of India's purchasing of Russian oil. Trump said on social media on Wednesday that India 'is our friend' but its 'Tariffs are far too high' on US goods. The Republican president added that India buys military equipment and oil from Russia, which Trump said had enabled the war in Ukraine. As a result, he intended to charge an additional 'penalty' starting on Friday as part of the launch of the administration's revised tariffs on multiple countries. Trump did not specify what the penalty he referred to for Russian trade will be. The measure comes as the 79-year-old Republican has signalled he intends to tighten US pressure on Moscow to halt fighting in Ukraine and negotiate a peace deal. On Tuesday, Trump said he was giving Russian President Vladimir Putin 10 days – which would mean the end of next week – to change course in Ukraine or face unspecified punishment. 'We're going to put on tariffs and stuff,' he said, but 'I don't know if it's going to affect Russia because obviously he wants to keep the war going.'

US-China trade talks: why Beijing unexpectedly emerged in a stronger position
US-China trade talks: why Beijing unexpectedly emerged in a stronger position

South China Morning Post

time4 hours ago

  • South China Morning Post

US-China trade talks: why Beijing unexpectedly emerged in a stronger position

Trade relations between China and the United States remain mired in uncertainty after two days of tense negotiations in Sweden earlier this week. But Beijing may actually have emerged in a stronger position as Washington continues to raise tariffs on other global economies, analysts said. A third round of US-China trade talks in Stockholm ended on Tuesday with China announcing that both sides had agreed to extend their 'tariff truce' by another 90 days, while the US side insisted the deal was still pending US President Donald Trump's final approval. That means, if nothing unexpected happens, the US will continue to impose 30 per cent additional tariffs on China after August 12, when the original truce is due to expire. The rate includes 20 per cent of duties Trump announced in the first quarter of the year, which were related to China's role in the fentanyl trade, and another 10 per cent levy imposed in April. But in relative terms, China's tariff rate is starting to look less damaging, as the US moves to impose higher rates on a slew of major trading partners before an August 1 deadline set by Trump. The gap between tariffs on China and various Southeast Asian nations is reducing fast Amitendu Palit, researcher 'It is interesting that the gap between tariffs on China and various Southeast Asian nations is reducing fast,' said Amitendu Palit, senior research fellow at the Institute of South Asian Studies at the National University of Singapore.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store