The Latest Breaking News from China

President Trump seems keen to scale back Elon Musk’s interaction with foreign diplomacy.

California filed a lawsuit on Wednesday to block Trump's broad tariffs on foreign trade partners, after he announced a 10% tariff on goods from all countries and even higher tariffs for nations his administration claimed made it difficult for U.S. products to enter their markets.

The fast fashion brands, known for selling particularly cheap clothes, cosmetics and accessories, are contending with the 145% tariff Trump slapped on most products made in China.

The Chinese president concluded his Southeast Asian tour in Cambodia, meeting top officials to strengthen ties and discuss trade amid US tariff concerns.

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

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

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.

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

US instrument manufacturers are heavily dependent on China for components