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The Latest Breaking News from China

China has options: The U.S. may be more dependent on trade with Asia than President Trump realizes

Also: Fed’s Powell issues warning, U.S. stocks slide, again.

Fortune

US-UK trade deal could impact relations with China, ex-spy chief warns

Nigel Inkster said a US-UK deal could negatively affect Britain’s relationship with China, which is a ‘critical supplier’ of pharmaceuticals.

Evening Standard

China Selling Seized Digital Assets? Crypto Users Troll Local Governments In 'Germany Type Move'

Local governments in China are reportedly dumping their seized Bitcoin and other cryptocurrencies amid a slowing economy – crypto holders blasted the move, reminding the community of how a similar move ended for Germany.

International Business Times

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Cambodia seeks China’s financial support as Xi visits amid US tariff war

Cambodia is an important leg in Xi’s regional tour, with China owning half of Cambodian businesses exporting to the US.

Al Jazeera

“These tariff actions will have a long-term effect on musicians worldwide”: The CEO of NAMM urges Trump to dump tariffs on components of musical instruments

US instrument manufacturers are heavily dependent on China for components

MusicRadar

Anger As China Club Plays Hours After Striker Boupendza's Death

Football fans in China were outraged by Zhejiang FC's decision to go ahead with a league match hours after the death of their Gabon international striker Aaron Boupendza.

International Business Times

China says it will pay no attention to Trump’s ‘tariff numbers game’

Beijing’s comments come after White House says Chinese exports could face duties of up to 245 percent.

Al Jazeera

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Divided loyalties? 62 Taiwanese military members found with Chinese residency permits

In the latest revelation of Chinese influence among the Taiwanese armed forced, at least 62 active-duty Taiwanese service members have been found holding Chinese residency permits

The Independent UK

China’s leader Xi Jinping arrives in Cambodia to wrap up 3-nation Southeast Asia tour

Chinese President Xi Jinping has arrive in Cambodia for a two-day state visit that serves as an opportunity to further strengthen already robust relations

The Independent UK

Unease Grows Over Trump Tariffs Despite 'Progress' In Japan Trade Talks

Uncertainty over Donald Trump's tariff blitz mounted Thursday after the Fed chief warned of rising prices and "volatility" while "progress" flagged by the US president in talks with Japan lifted markets slightly.

International Business Times

In the trade war, China has moved to curb supply of critical minerals. Can Australia seize the moment?

In the escalating trade war between the United States and China, one notable exception stood out: 31 critical minerals, including rare earth elements, were strategically exempted from tariffs.

The Conversation

Thailand’s fragile democracy takes another hit with arrest of US academic

Despite the challenges faced by local democratic activists, Thailand has often been an oasis of relative liberalism compared with neighbouring countries such as Myanmar, Laos and Cambodia.

The Conversation

As Trump threatens tariffs, Vietnam scrambles to avert economic disaster

The Southeast Asian country is hoping for a reprieve from 46 percent duty, which would pummel its economy.

Al Jazeera

Re-arm, reassure and spend big: how the Asia Pacific is responding to a new era under Trump

The US president has upset global norms in the space of weeks, spurring a flurry of defence spending, diplomatic overtures and offers to boost trade

The Guardian - AU

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The Independent UK

Ex-NYPD officer sentenced to 18 months after conviction for helping China stalk an expat

A former New York police sergeant has been sentenced to 18 months in prison in a U.S. case about China’s pursuit of critics abroad

The Independent UK

Chinese e-commerce sites Temu and Shein say they’re raising prices due to Trump tariffs

Temu and Shein say they plan to raise prices for U.S. customers starting next week

The Independent UK

Trump claims his tariffs are bringing in $2 billion a day - the actual figure is just a fraction of that

The federal agency that collects tariffs estimates the U.S. has made just $500 million from the taxes since April 5

The Independent UK

Trump admin closes State Department office battling foreign disinformation

Marco Rubio claims office ‘spent millions of dollars to actively silence and censor the voices of Americans they were supposed to be serving’

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news in one place.

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Reason

California Files Lawsuit Against Trump's Tariffs

They challenge both the "Liberation Day" IEEPA tariffs, and earlier ones imposed on Canada, Mexico and China.

The Independent UK

Gavin Newsom’s California becomes the first state to sue Trump over his tariff plan

The suit argues that as a ‘global leader in trade,’ the Golden State will bear an ‘inordinate share’ of the costs resulting from the sweeping levies

Barchart

Stocks Plummet on Semiconductor Weakness and Powell Comments

The S&P 500 Index ($SPX ) (SPY ) Wednesday closed down -2.24%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -1.73%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -3.04%. June E-mini S&P futures (ESM25 ) are down -2.12%, and June E-mini Nasdaq futures...

Fortune

Trump thinks 'cheaters' are hurting us on trade, but the U.S. actually employs a sneaky number of 'non-tariff barriers' to dispel foreign goods

The culprit is “non-tariff barriers” (NTBs), such as quotas and technical standards that systematically block goods from flooding U.S. markets.

Fortune

Stocks slide deeper into the red after Fed chair's 'stagflation' warning reignites tariff fears

A tech selloff led the major indexes lower, while the Fed chair's warning on tariffs accelerated trade war fears.

The Independent UK

For the first time in years, the public trusts Republicans less on the economy than Democrats, poll finds

Trump’s own economic approval rating has fallen as he continues his trade war with China

Barchart

Tariff Angst Hammers the Dollar and Boosts Gold to a Record High

The dollar index (DXY00 ) Wednesday fell by -0.92%. The dollar was under pressure Wednesday as the tit-for-tat trade war with China erodes confidence in the dollar after the US government barred Nvidia from selling its H20 chips to China. The US tariff turmoil diminishes the dollar’s reserve-currency status and...

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