Analyst explains why she thinks progress will be made in U.S.-China trade talks
President Trump's top economic advisors will meet with Chinese trade representatives in London on Monday for a fresh round of trade talks. Senior fellow at the Yale Law School's Paul Tsai China Center Samm Sacks explains what both sides will want to gain from the discussions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
Huawei Founder Dismisses U.S. Export Control Concerns
U.S. chip restrictions won't have an impact on Huawei Technologies, its founder has said, dismissing concerns that it will be squeezed by export controls.
Yahoo
27 minutes ago
- Yahoo
Rolls-Royce to build Britain's first mini nuclear reactors
Rolls-Royce will build the country's first mini nuclear power plants as part of a multibillion-pound effort to make Britain a world leader in the technology. The Derby-based engineering giant was on Tuesday confirmed as the sole winner of a design competition, beating rivals GE-Hitachi and Holtec International following a two-year selection process. It will now work with the Government on a programme to initially build three the first small modular reactors (SMRs) by the 2030s, with £2.5bn of funding pledged through 2029 and billions more expected beyond that once construction begins. Ministers said the decision showed they were 'backing Britain', with the majority of the supply chain expected to be based domestically. As a 'preferred' bidder, Rolls will now hold talks to negotiate a final contract with the Government. A location has yet to be announced but sites including Wylfa, in Anglesey, and Oldbury-on-Severn, in Gloucestershire, are among those being considered. Ed Miliband, the Energy Secretary, said the scheme would boost energy security and create thousands of jobs, as part of a new 'golden age of nuclear' that has also seen the Government pledge £14bn of new funding to the construction of Sizewell C. Rachel Reeves, the Chancellor, added: 'The UK is back where it belongs, taking the lead in the technologies of tomorrow with Rolls-Royce SMR as the preferred partner for this journey. 'We're backing Britain with Great British Energy - Nuclear's ambition to ensure 70pc of supply chain products are British built, delivering our plan for change through more jobs and putting more money in people's pockets.' SMRs would in theory be faster to build than larger nuclear plants, such as Hinkley Point C and Sizewell C, and come with smaller price tags – although they remain unproven commercially. Tuesday's announcement also confirmed cutbacks to the SMR programme, which The Telegraph previously revealed were being considered. The Government had earlier suggested that two or as many as three SMR manufacturers would be chosen to take designs forward, with nuclear industry insiders saying this would boost competition and ensure a 'backup' was available should the main winner run into trouble. But with the Treasury under pressure to find billions of pounds for other priorities such as the NHS and police forces, the scale of the programme now appears to have been trimmed back. Ministers also confirmed that Great British Nuclear, the quango set up to manage the new mini-nuclear programme, would be absorbed into Mr Miliband's publicly owned Great British Energy. Tufan Erginbilgic, chief executive of Rolls-Royce, said: 'This is a very significant milestone for our business. 'It is a vote of confidence in our unique nuclear capabilities, which will be recognised by governments around the world.' Rolls has also been selected by the Czech government to build some of Europe's first SMRs in a joint venture with state energy firm CEZ. The decision brings to a close a process that was first promised by George Osborne, the former chancellor, in 2015 but did not begin until 2023 under the previous Conservative government. Rolls was widely viewed as the frontrunner in the process and had already been awarded £210m of taxpayer support in 2021 towards the development costs of its SMR technology. But in the past year, ministers have faced calls from Rolls boss Erginbilgic to push forward more quickly to ensure Britain retains 'first mover advantage'. The global SMR market is projected to be worth up to £500bn by 2050, according to the International Energy Agency. Rolls is vying against companies including Westinghouse and GE-Hitachi to secure customers and set up supply chains. The company has long supplied the pressurised water reactors that power Royal Navy submarines but has more recently sought to develop SMRs and even smaller 'micro reactors' for commercial use as well. Its SMRs would be constructed from 'modules' that are built in factories and then transported to sites for assembly. The idea is meant to ensure that the plants can be produced efficiently at scale and more quickly than larger nuclear projects. As part of the SMR competition, the Government asked companies to explain how they would bring down costs over time. In the longer run, it is also hoped that the smaller price tags of SMRs will ensure they are more attractive to private investors, which have long viewed bigger plants as too expensive and risky to back without government support. Major technology companies including Google, Amazon and Facebook owner Meta are investing in potential SMR technologies, amid suggestions they could eventually be used to supply power-hungry data centres needed to develop artificial intelligence. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
31 minutes ago
- Yahoo
Expat reveals astounding detail on street of city with '30 million people'
When visiting any city with a large population, most travellers would expect to jump off public transport and instantly be hit with a barrage of sights and sounds. However, one US expat living in China has revealed the incredible – and quite different – reality emerging in the county while on a recent visit to a neighbouring city. US citizen Garrett took a trip to the city of Suzhou, about an hour from his home in Shanghai. Arriving there, he was left astounded while standing beside the road because, despite cars and motorbikes zooming past, there was virtually no traffic noise. "Quite a busy intersection but super quiet," he told Yahoo News of the surprising moment, which highlights just how successful the uptake of electric vehicles has been in the Asian economic powerhouse. "The silence on the streets is fantastic; even in a city of 30 million people, the streets are incredibly calm," he said. For Garrett, he's seen firsthand that it's hard for Westerners to understand why this has happened. "As I have seen in China, sustainability isn't political at all; it's a widely acknowledged necessity for the planet and for economics," he said, explaining that EV-driving "isn't cool, it's just normal". In 2024, China sold nearly 13 million fully electric and hybrid vehicles, meaning EVs accounted for 40 per cent of total sales in the Chinese market. The number of sales is four times as many as the United States. In Australia, that figure was just 114,000 in the same time frame, according to the Electric Vehicle Council. Australians are continuing to buy more electric vehicles than ever before, according to recent sales records. But traditional brands like Toyota and Ford still dominate new car sales, with Toyota topping the charts for an incredible 23 years. 🚙 Drivers 'completely unaware' of little-known road rule attracting $6,000 fines 🔌 Hundreds of Teslas in Aussie car park exposes grim truth for Elon Musk 🔋 Solution to hazardous electric vehicle 'problem' in major Aussie city Garrett said his Chinese colleagues are more surprised to hear that someone doesn't drive an EV. "Many of my colleagues have EVs, and when I pointed that out, they responded with 'oh, yeah, don't you drive one?'," he said. "In my view, I think it's because people don't seem to politicise sustainability." This was laid bare as US President Donald Trump and Tesla CEO Elon Musk exchanged in a very public back-and-forth earlier this week, signalling their relationship may well be over. The Tesla boss criticised the president's 'Big Beautiful Bill' aimed to fast-track policy around spending, revenue and the debt ceiling, which would see electric vehicle subsidies scrapped in the US. "I don't believe America will get to the level China is at ever without significant political change," Garrett said. "And as America is a very individualistic culture, it will be very hard to sell the public on the benefit to the greater society. Most people I know in China just say 'Well, driving EVs is better for everyone and the government supports that'." China is leading the way with EV uptake largely due to government support through subsidies and tax breaks. Licence plates for regular cars with internal combustion engines face long waits and high costs to get the plates, but for EVs it's free. Homegrown support has helped Chinese automakers expand across the world, with countless new models hitting the market in Australia and worldwide seemingly every month. BYD took the world by storm when photos of its fleet of car carriers recently emerged. The brand, commonly seen on Aussie roads, is moving with "unprecedented speed" to overtake US rival Tesla as the global leader in electric vehicles. Car expert Paul Maric recently returned from the Shanghai International Automobile Industry Exhibition, where Chinese car brands displayed their latest innovations. "China is on another level entirely," he told Yahoo News recently. "Anyone in Australia who thinks they're just going to go away sometime soon is in for a shock. "I think eventually it will just lead to cars becoming more affordable," he said of the growing expansion of the Chinese industry. Do you have a story tip? Email: newsroomau@ You can also follow us on Facebook, Instagram, TikTok, Twitter and YouTube.
