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US-China trade war
US-China trade war: All stories
Trade
News about international trade flows, statistics and policy decisions from the world’s most important trading economies and trade-related bodies, including the World Trade Organisation.
A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, on April 4. The Dow dropped 1,200 at the opening and global markets tumble as worries deepen about economic impact of Trump’s trade war. Photo: AFP
United States

Developing | Wall Street tumbles 1,200 points as Trump’s trade war fuels global market fears

US President Donald Trump said he won’t back down on his sweeping new tariffs, which have roiled global trade.

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Donald Trump

Amid Trump’s tariff war, 1 Asia sector could emerge unscathed – clean energy

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Digital currencies

Hong Kong remains upbeat on Web3 amid crypto market turmoil from US tariffs

Thailand

Thailand stock exchange bans short selling amid Trump tariff fallout

Thailand was hit by a tariff of 36 per cent, among the highest rates in the region, and its trade surplus with the US totalled US$45 billion last year.

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A Thai investor looks at an electronic display of share prices in Bangkok. Thailand has banned short selling to stabilise the stock market following US tariffs. Photo: AFP
US-China trade war

Beijing tells Tesla, GE Healthcare to blame Washington for ‘tariff tensions’

‘Tariff tensions originate from Washington, and we encourage US businesses to address root causes,’ China’s vice-minister of commerce says in latest round-table chat.

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United States

Explainer | From Great Depression to Covid-19, how Trump’s tariffs compare to worst crashes

China’s retaliation to Trump’s tariffs caused historic stock market collapses in Asia and Europe, reminiscent of past financial crises.

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Malaysia

Malaysia warns of slump over US tariff as visit by China’s Xi spurs trade hopes

President Xi Jinping’s coming visit to Malaysia, Cambodia and Vietnam has turned attention to China as a potential economic stabiliser.

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A container terminal in port Klang near Kuala Lumpur. Malaysia has warned of a “mid-to-long-term impact” from higher US tariffs. Photo: Shutterstock
Singapore

‘It’s not good news’: Singapore’s leaders warn over Trump tariff bombshell

PM Lawrence Wong warned of a rising global trade war threat, as his predecessor Lee Hsien Loong predicted long-term tariff fallout.

Cryptocurrency

Bitcoin, ether rout extends as tariff war pain batters cryptocurrency assets

Cryptocurrency investors appear to be in full ‘sell mode’, according BTC Markets analyst Charlie Sherry.

United States

Ukraine ceasefire talks trump tariffs on Russia, US official says

Tariffs on Russia would have been inappropriate, a US economic adviser said – despite its exports to the United States dwarfing Ukraine’s.

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A combination photo shows Russian President Vladimir Putin and US President Donald Trump. Photo: AFP
Hong Kong stock market

Asia-Pacific stocks plunge as traders rush for the exit in global tariff war

Eleven major Asia-Pacific benchmarks fall to their 52-week low; the Hang Seng China Enterprises Index enters a bear market.

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Hong Kong’s benchmark Hang Seng Index fell sharply on Monday. Photo: Jelly Tse
United States

Market panic mounts as world scrambles to temper Trump tariffs

US oil prices dropped below US$60 a barrel for the first time since April 2021, even with countries seeking compromise on tariffs.

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US-China trade war

Opinion | Trump’s tariffs offer China an opportunity riding a dangerous wind

The US president’s moves could serve as a catalyst for China to increase domestic stimulus and forge closer ties with its major trading partners.

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Indonesia

Indonesia will not retaliate against Trump tariff, minister says

Chief Economic Minister Airlangga Hartarto said that Indonesia would pursue diplomacy and negotiations to find mutually beneficial solutions.

Airlangga Hartarto, Indonesia’s chief economic minister, in 2022. Photo: Reuters
Hong Kong economy

Hong Kong jewellers weigh reducing US exposure, relocating amid Trump’s tariffs

Many will scale back operations while smaller players may eventually have to close down, one industry leader says.

Hong Kong exported US$2.79 billion worth of “pearls, precious and semi-precious stones” to the US in 2024. Photo: Sun Yeung
European Union

EU hits back at Trump’s trade war with US$28 billion in planned tariffs

The EU’s retaliatory tariffs will hit US products including meat, wine and clothing as well as chewing gum, vacuum cleaners and toilet paper.

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Hong Kong economy

US tariffs to have short-term impact on Hong Kong, finance chief Paul Chan says

Government will prepare for worst and take action to help businesses, finance minister vows, amid ‘heavy pressure’ on global economy.

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United States

Farmers backed Trump’s re-election. Now they feel the sting of his tariffs

With all trading partners now targeted, ‘anxious’ growers are likely to have a harder time finding new markets.

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The tariffs mean businesses pay more to import US products, hurting American farmers’ competitiveness. Photo: AP
Britain

UK PM Starmer ready to ‘shelter’ businesses from Trump tariff storm

The prime minister says the priority is to get a deal with the US, but state intervention for the worst-hit industries is also on the table.

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US-China relations

Opinion | Trump’s plan for port fees on Chinese-made ships won’t save US shipyards

Instead, US exporters and smaller ports would face collapse even as higher costs force trade away and erode American economic interests in the long run.

Donald Trump

Trump doubles down on tariffs, says China ‘hit much harder’ than US

The US president told Americans to ‘hang tough’, warning them of pain ahead but promising that the United States would ‘win’.

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US President Donald Trump gestures as he disembarks from Air Force One in Miami, Florida, on Thursday. Photo: Reuters
Stocks

US Treasury chief Bessent: stock market drop a ‘Mag 7’ problem, not a Maga one

The decline has more to do with the emergence of Chinese AI firm DeepSeek than with Trump’s economic policies, Bessent says.

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US Treasury Secretary Scott Bessent. Photo: Reuters
Canada

Tariffs bring turmoil to US, Canada farm machinery manufacturers

With farm machine purchases negotiated months or up to a year or more in advance, the risk of tariffs makes new equipment too costly.

Vietnam

Vietnamese firms bemoan ‘absurdity’ of Trump’s higher tariff as US orders fall

As part of President Donald Trump’s move to impose ‘reciprocal’ tariffs, Vietnam will face a levy of 46 per cent on its exports to the US.

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Diplomacy

Macroscope | Trump could end up making Asia, not America, great again

The US’ presence in Asia is entrenched but the prospect of a Europe-East Asia economic alliance is one card both regions could play.

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European Commissioner for Trade and Economic Security Maros Sefcovic meets Chinese Vice-Premier He Lifeng in Beijing, China, on March 27. Photo: EPA-EFE/Xinhua
United States

Analysis | From Trump to the Great Depression, did tariffs ever truly help the US economy?

Tariffs, like Trump’s, have a chequered past, with experts suggesting access to resources and labour are key to growth, not levies.

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US tariff history shows protectionism often fails, as experts warn Trump’s policies echo past mistakes with inconclusive economic benefits. Photo: Reuters
Indonesia

Asian Angle | Can Indonesia’s Batam hold its own against Johor-Singapore SEZ?

Batam has struggled to attract investment, stymied by local-level dysfunctions and a lack of connections to major Indonesian cities.

United States

US starts collecting Trump’s new 10% tariffs as global trade tensions escalate

Economists have warned that the tariffs could dampen growth and fuel inflation.

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