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Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Treasury secretary Scott Bessent warned Beijing that its new sweeping export controls on rare earths and critical minerals would force the US and other countries to decouple from China. Speaking alongside US trade … Read more
U.S. and China national flags adorn motorcades in Beijing, China. Pool | Getty Images News | Getty Images China on Sunday defended its new export controls on rare earths as a “legitimate” measure under international law, pushing back against U.S. accusations of economic coercion after Washington announced sweeping retaliatory tariffs and export restrictions. The Chinese … Read more
U.S. President Donald Trump points a finger as he speaks during a roundtable on “Antifa,” an anti-fascist movement he designated a domestic “terrorist organization” via executive order on September 22, at the White House in Washington, D.C., U.S., Oct. 8, 2025. Evelyn Hockstein | Reuters President Donald Trump on Friday said the United States would … Read more
President Donald Trump said Friday that he will impose an additional 100% tariff on China and limit U.S. exports of software, escalating the trade war after months of it appearing to ease toward a resolution. The latest salvo came after China restricted its exports of rare earths, which are critical minerals used across industries, from … Read more
A view of mining facilities at the MP Materials rare earth mine in Mountain Pass, California, U.S. January 30, 2020. Steve Marcus | Reuters China has tightened export controls on rare earths and related technologies while barring its citizens from participating in unauthorized mining overseas, adding fresh strains to a sector central to its geopolitical … Read more
US President Donald Trump during a meeting with Lee Jae Myung, South Korea’s president, not pictured, in the Oval Office of the White House in Washington, DC, US, on Monday, Aug. 25, 2025. Al Drago | Bloomberg | Getty Images U.S. President Donald Trump on Monday stateside warned of steeper tariffs on China if exports … Read more
Under both the first Trump and Biden administrations, Washington argued that it needed to limit China’s technological development by barring more and more sensitive products from being exported to its strategic rival. Now, Trump’s decision to allow Nvidia and AMD to sell their advanced AI chips to China in exchange for a 15% cut of … Read more
Good morning. The U.S. government’s unprecedented 15% revenue-sharing agreement with Nvidia and AMD on Chinese chip sales could be coming to a company near you. U.S. Treasury Secretary Scott Bessent called it a “beta test” in a Bloomberg TV interview yesterday, adding, “we could see it in other industries over time.” This comes at a … Read more
Good morning. I called some CEOs yesterday to get their thoughts on Nvidia and AMD’s deal to give the U.S. government a 15% cut of AI chip sales to China to secure export licenses. Most were surprisingly sanguine about the unusual arrangement. Corey duBrowa, who is global CEO of communications giant Burson, described the deal … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Britain’s financial regulators are failing to push through vital reforms needed to unlock some £22bn in trade finance for small businesses, the UK branch of the International Chamber of Commerce has warned. In a letter … Read more
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