Articles in this Cluster
25-04-2025
Asia-Pacific markets rose as Wall Street gained for a third straight day, driven by tech stocks and improved trade climate sentiment. Hong Kong's Hang Seng Index was 1.36% higher, mainland China's CSI 300 inched up 0.35%, Japan's Nikkei 225 rose 1.88%, and South Korea's Kospi climbed 1.07%. China may waive its 125% tariff on certain U.S. goods, and South Korea is reportedly nearing a trade deal with the U.S. Futures linked to the S&P 500 were 0.3% higher, while Nasdaq-100 futures gained 0.4%. Tokyo's core CPI rose 3.4% in April, breaching 3% for the first time since 2023.
25-04-2025
The US stock market rallied on Thursday, driven by strong gains in megacap tech names, with the S&P 500 and Nasdaq posting gains of over 2%. Alphabet and Intel reported stronger-than-expected quarterly results, with Alphabet's shares rising over 5% in after-hours trading. However, trade tensions between the US and China remain a concern, with Intel's CFO warning that tariffs have increased the likelihood of a recession and China denying that trade talks are underway, contradicting statements from the White House.
25-04-2025
Emerging markets are navigating a challenging trade landscape amid escalating tensions between the US and China. Instead of choosing between the two, many are focusing on intra-regional trade and diversifying their trade and investment partners. Southeast Asia is particularly vulnerable, but economists believe the region's economies can benefit from the "China+1" strategy, where companies shift production away from China. UN Trade and Development Secretary-General Rebeca Grynspan notes that South-South trade is growing faster than North-North trade, and ASEAN chair Anwar Ibrahim is promoting greater economic integration within the region. Economists expect emerging economies to use fiscal and monetary policy tools to mitigate the impact of US tariffs and diversify their trade partners in the medium term.
25-04-2025
Multinational companies, including Toyota and Nissan, are making significant investments in China despite trade tensions and tariffs, bucking the trend of caution among foreign firms. Toyota signed a US$2 billion deal to manufacture electric vehicles in Shanghai, one of the largest foreign investments in China since the US imposed tariffs. These investments demonstrate confidence in China's economy and contradict reports that the US is pressuring trade partners to limit trade with Beijing.
25-04-2025
China denied US President Donald Trump's assertion that the two countries were involved in active negotiations over tariffs, saying the US should revoke its unilateral tariffs against China. China's commerce ministry spokesman said any claims of progress in trade negotiations were "groundless as trying to catch the wind" and that consultations must be conducted on the basis of mutual respect. The trade war between the US and China has escalated with both countries imposing high tariffs on each other's goods.
25-04-2025
South Korea has called for "calm" and "orderly" discussions with the U.S. on trade issues, seeking to work out a deal by July 8 to avoid tariffs. South Korean Finance Minister Choi Sang-mok and Trade, Industry and Energy Minister Ahn Dukgeun met with U.S. Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer in Washington, D.C. for "2+2" talks, proposing mutually beneficial solutions and communicating concerns about tariffs. Ahn suggested measures such as contributing to the U.S. shipbuilding industry's reconstruction and strengthening South Korea's energy security. The two sides agreed to continue working-level meetings and high-level discussions.
25-04-2025
Terry Branstad, Donald Trump's former envoy to China, stated that the US may lower tariffs on Chinese goods to revive trade talks, but expects Beijing to reciprocate for a deal to be reached. Branstad predicted some movement from the White House within the next year, but was uncertain if a deal would be made. The White House is reportedly considering cutting tariffs on non-strategic Chinese goods by more than half.
25-04-2025
China has quietly rolled back retaliatory tariffs of 125% on certain US-made semiconductors, according to three import agencies in Shenzhen. The exemptions, which have not been officially announced, apply to integrated circuits, excluding memory chips. Chinese authorities have not publicly confirmed the exemptions, but several companies, including Zhengnenliang Supply Chain and HJET Supply Chain, have reported being notified by local customs officials of the change, which reduces tariffs to zero for eight specific tariff codes related to semiconductors.
25-04-2025
China has waived its 125% retaliatory tariffs on certain US semiconductor imports, citing industry sources, in a possible sign of a trade war thaw. At least eight IC-related tariff codes were exempted, although tariffs on memory chips remain in place. Refunds will be available for duties paid between April 10 and 24.
25-04-2025
California has overtaken Japan as the fourth largest global economy, with a gross domestic product (GDP) of $4.10 trillion in 2024, surpassing Japan's $4.01 trillion. The state's economy is now behind only the US, China, and Germany, and was the fastest growing among those countries. California's Governor Gavin Newsom attributed the success to the state's strong manufacturing, agricultural, and technological sectors, but expressed concerns about the impact of President Donald Trump's tariffs on the state's economy, which he has challenged in a lawsuit.
25-04-2025
California has surpassed Japan to become the world's fourth-largest economy, with a nominal GDP of $4.1 trillion in 2024, according to preliminary data. The state's economy grew by 6% last year, outpacing the US, China, and Germany. California Governor Gavin Newsom attributed the state's success to investments in people, sustainability, and innovation, but warned that the state's economic growth is being threatened by President Donald Trump's tariffs. Newsom has sued Trump over his use of emergency powers to enact tariffs, arguing that they have disrupted supply chains and inflicted billions of dollars in damages on the state.
