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South China Morning Post
an hour ago
- South China Morning Post
Nvidia to stop including China in profit, revenue forecasts amid US chip export controls
Nvidia will exclude the Chinese market from its revenue and profit forecasts following the imposition of tough US restrictions on chip sales to China, CEO Jensen Huang told CNN on Thursday. Advertisement When asked whether the US will lift export controls after trade talks with China in London this week, Huang said that he was not counting on it. 'But, if it happens, then it will be a great bonus. I've told all of our investors and shareholders that, going forward, our forecasts will not include the China market,' Huang said. Nvidia did not immediately respond to a Reuters request for comment. US President Donald Trump said on Wednesday he was very happy with a trade deal that restored a fragile truce in the US-China trade war , a day after negotiators from Washington and Beijing agreed on a framework covering tariff rates. Advertisement
South China Morning Post
14 hours ago
- South China Morning Post
Hong Kong re-exporters urged to remain cautious despite US-China trade talks
The latest US-China trade talks may have alleviated concerns among some Hong Kong re-exporters, but the sector should remain cautious because President Donald Trump's administration has been accused of creating crises to gain bargaining power, according to observers on Thursday. Advertisement High-level officials from the United States and mainland China concluded their two-day economic and trade consultation mechanism meeting in London on Wednesday. Trump announced that a trade agreement had been reached with the mainland, stipulating that tariffs on Chinese imports to the US would increase from the current 30 per cent to 55 per cent, while tariffs on US exports the other way would remain at 10 per cent, pending approval from himself and Chinese President Xi Jinping. According to Trump, the US would also gain access to the mainland's magnets and all necessary rare earth elements, while certain provisions would be offered in exchange, including allowing mainland students to study at American universities. Gary Ng Cheuk-yan, a senior economist at Natixis Corporate and Investment Bank, suggested the deal could offer a slight benefit to Hong Kong, although it was too early to say the dust had settled between the two countries. Advertisement 'For Hong Kong, such a deal may help stabilise its US-China re-exports with less concern about electronic equipment supply chains, which is the largest trade item. Given the less intense environment, the front-loading demand may be lower than in the scenario of a full-fledged trade war,' he cautioned. 'There is no guarantee that what we see right now will remain, and more restrictions can return at any time, especially as the US includes China clauses in its deals with other countries, which may also affect Hong Kong.'
South China Morning Post
17 hours ago
- South China Morning Post
After heated London talks, where do China-US trade relations stand?
After two days of closely watched trade talks between the United States and China in London, US President Donald Trump has declared the negotiations have led to a wide-ranging deal to maintain the fragile truce laid out after earlier talks in Geneva. Advertisement The agreement, Trump said, would cover numerous points of contention, including shipments of rare earth minerals, student visas and tariffs. China, meanwhile, has been reticent to comment on the talks' outcome, with representatives only saying they would submit a report for President Xi Jinping's approval. Here, we summarise the latest developments in the ever-changing trade relationship between the world's two largest economies. What did Trump say – and not say？ Trump took to his Truth Social platform on Wednesday to share initial details from the intensive discussions in London, stating a US-China accord was 'done'.
