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The Latest Breaking News from China

King Charles dragged into Prince Andrew spy scandal

Senior adviser to Duke of York claims monarch was aware of investment fund in which Yang Tengbo, an alleged spy, was directly involved after meetings with Andrew – but Buckingham Palace say Tengbo was not mentioned

The Independent UK

Andrew and aide twice spoke to King about alleged spy-linked fund, tribunal told

Buckingham Palace said alleged spy Yang Tengbo was not mentioned in any way in discussions about the Eurasia Fund.

Evening Standard

Fox News debuts amazing new spin on Trump tariffs: It’s the ‘audit that we need’

Emily Compagno declared on Friday that she is ‘grateful for a commander-in-chief’ who is willing to engage in this global trade war.

The Independent UK

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Dow crashes 2,200 points and Nasdaq falls into bear market territory as stocks extend selloff after Powell signals no imminent rate cuts

The Dow Jones Industrial Average, the S&P 500, and the Nasdaq continued their selloff Friday after Trump’s “Liberation Day” tariffs.

Fortune

India's Modi in Sri Lanka on a 2-day state visit as concerns grow over China's influence

Indian Prime Minister Narendra Modi has begun a two-day state visit to neighboring Sri Lanka, where he is expected to sign several power and defense agreements

The Independent UK

Trump gives TikTok deal extension after China walked away from negotiations due to tariffs

Without a deal, TikTok would go dark in the United States on Saturday for more than 170 million users

The Independent UK

Trump's Tariff Big Bang Puts Global Economy Under Threat

It took just one 50-minute speech by US President Donald Trump to undermine global economic stability and raise the prospect of a recession, with China's countermeasures only amplifying the risk of a debilitating tit-for-tat trade war.

International Business Times

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Board game publishers lament the devastating impact of new US tariffs on the tabletop industry: 'There is no silver lining. It is a lose-lose-lose situation for everyone involved'

The tabletop boom just stopped dead in its tracks.

PC Gamer

China hits back hard at ‘bullying’ Trump tariffs as global recession fears grow

Beijing imposes punitive 34% extra tariffs on all goods imported from US, exacerbating stock market sell-off

The Guardian - UK

Global trade war intensifies and shares tumble as China hits back at Trump tariffs

FTSE 100 suffers worst losses since Covid-19 as Starmer weighs British response to fees on imports

The Independent UK

Here's How Automakers Are Reacting to Trump's Tariffs

The Trump Administration recently announced a 10-percent baseline tariff on all goods imported into the United States, including vehicles. Some countries will face even higher costs, with goods from China subject to 34-percent tariffs, and goods from the European Union subject to 20-percent tariffs.

Motor1

China’s retaliatory tariffs spark fresh turmoil in global financial markets

Fresh turmoil was sparked on Friday by China announcing it will impose a 34% tariff on imports of all US products.

Evening Standard

What do Trump’s 145% tariffs on China mean and who will be affected?

IN NUMBERS: As China and the US both lash out with 125% tariffs, Alicja Hagopian and Millie Cooke look at what industries will be hardest hit.

The Independent UK

Intel Stock Is Falling Victim to the Trade War. How Should You Play INTC Here?

China’s retaliatory tariffs on American goods are hurting Intel stock on Friday. But a UBS analyst sees reason to buy INTC shares on the pullback.

Barchart

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The Independent UK

The $2,300 iPhone: Apple products could increase dramatically in price because of Trump tariffs, experts say

Most companies, including Apple, are yet to give clear information on what tariffs might mean for prices or profits

Tom’s Hardware

China strikes back at Trump with 34 percent tariff — bans some rare earth exports to the U.S.

China applied a 34% tariff on all goods coming from America., as well as banning the export of seven rare earth metals to the U.S.

Euronews

Commission watching for Chinese steel and electronics imports amid trade war

As reciprocal tariffs kick in, the EU is expecting goods formerly destined for the US to seek EU markets, with Chinese renewables, steel and electronics topping a list of products the Commission is keeping its eye on.

Barchart

Crude Prices Plunge as Tariff Turmoil Threatens Global Energy Demand

May WTI crude oil (CLK25 ) today is down -4.66 (-6.96%), and May RBOB gasoline (RBK25 ) is down -0.1146 (-5.30%). Crude oil and gasoline prices are sinking for the second day, with crude falling to a 4-year low and gasoline sliding to a 1-month low. Tariff turmoil is undercutting...

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Barchart

Stock Rout Continues on Global Trade War Fears

The S&P 500 Index ($SPX ) (SPY ) today is down -4.56%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -3.79%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -4.76%. June E-mini S&P futures (ESM25 ) are down -4.09%, and June E-mini Nasdaq futures...

Evening Standard

Apple iPhone prices could soar to £2,700 due to Trump's tariffs, says analyst

Apple faces a tough choice: absorb the costs and risk growth or pass them on to consumers with eye-watering price hikes

The Independent UK

China hits US with massive tariffs - here’s how the markets reacted

Trump tariffs live: China hits US with huge 34% tariff after FTSE drops in market meltdown

InsideEVs

Billions In U.S. EV Projects Just Stalled, As China Speeds Ahead

Under the Biden administration’s Inflation Reduction Act, the U.S. was on track to meet all its battery demand for electric vehicles from local manufacturing by the end of the decade. Now, the country may not reach that goal as billions of dollars worth of clean energy projects have stalled in…

The Independent UK

John Rentoul answers your Trump tariffs questions from the ‘Brexit dividend’ to chlorinated chicken

ASK ME ANYTHING: In a live Q&A, The Independent’s chief political commentator John Rentoul fielded readers’ questions on Trump’s trade war, its global consequences, and the UK’s options for navigating this latest storm

Barchart

Is the US Soybean Market Great Again?

Regardless of how one views the US soybean market, there are a number of fundamental factors that shed light on the situation.

International Business Times

Trump Goads China After Beijing Retaliates In Global Trade War

President Donald Trump goaded a "panicked" China on Friday after the chief US economic rival retaliated against his tariffs and he dismissed stock market panic over the growing global trade war, touting the chance to "get rich."

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