Washington: US President Donald Trump’s steep tariff hike targeting Chinese goods, which took effect Thursday, brings Washington’s additional rate on many products to 145 percent, the White House confirms. Trump’s 90-day halt in fresh duties for dozens of countries has come into place, a White House order showed. But he has also doubled down by…
Hong Kong Chief Executive John Lee Ka-chiu delivers a speech during a conference organized by the Hong Kong Federation of Overseas Chinese Associations at Wan Chai in the city, April 10, 2025. (ADAM LAM /CHINA DAILY) HONG KONG – Chief Executive John Lee Ka-chiu on Thursday urged overseas Chinese living in Hong Kong to stand…
Fashion stocks rallied on Wednesday afternoon after President Donald Trump announced a 90-day pause on most reciprocal tariffs, with one notable exception: China, which was hit with a tariff increase to 125 per cent, from 104 per cent. The markets have been waiting with baited breath for a sign that Trump was willing to negotiate….
In a dramatic twist during an already volatile trade showdown, US President Donald Trump heaped praise on Chinese President Xi Jinping, calling him “one of the smartest people in the world” even as both Washington and Beijing lobbed escalating economic threats at each other. The tensions flared further when Trump executed a stunning volte-face –…
Meanwhile, fast fashion brands (especially China-based Shein and Temu, which will see the de minimis shipping exemption for packages under $800 disappears in May) may fare better by remaining the least expensive option as all prices go up. Mid-tier brands that rely on manufacturing and sourcing partners globally, and especially in Asia, could bear the…
US President Donald Trump has tripled tariffs on small parcels exported from mainland China and Hong Kong which were exempt from duties, amid an escalating crossfire between the world’s two biggest economies. According to an amendment on so-called reciprocal tariffs published by the White House on Wednesday Hong Kong time, the new rate on packages…
Amid rising trade tensions with Washington, China on Tuesday urged India to join hands in resisting what it called the “US abuse of tariffs”, after President Donald Trump announced a steep hike, raising cumulative tariffs on Chinese imports to 104 per cent. China urges India to join hands as US trade tensions escalate. (ANI FILE…
“Nobody but me would do this,” Donald Trump declared on Monday, sitting forward in his blingy Oval Office while the global trading figures spun like a pinball machine score. He scotched rumours that he was considering a pause on his tariff ultimatums. He warned that China would face a further 50 per cent tariff punishment…
How do you deal with a bully? If you are China, you stand up to your bully, vowing that it will “fight to the end”. On Monday (April 7), signs of an all-out trade war loomed between the US and China after President Donald Trump threatened Beijing with another 50 per cent tariff unless it…
Executives expected Trump’s latest round of tariffs, announced on 2 April, to be bad. They were far, far worse than imagined. The “Liberation Day” tariffs on $2.5 trillion worth of imports moved executives from companies based in the US with overseas production to mobilise, calling board meetings and spending time on the phone with suppliers…