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The Latest Breaking News from China

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’

The Independent UK

California Files Lawsuit Against Trump's Tariffs

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

Reason

From analysis to the latest developments in health,
read the most diverse news in one place.

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

The Independent UK

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...

Barchart

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

Dow Jones Futures Dive On UnitedHealth; Trump Says Powell 'Termination Cannot Come Fast Enough'

Dow Jones futures plunged as UnitedHealth dived, while techs rallied on Taiwan Semi. President Trump harshly criticized Fed chief Powell.

Investors Business Daily

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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.

Fortune

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

The Independent UK

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...

Barchart

Crude Prices Gain as China Signals it is Open to US Trade Talks

May WTI crude oil (CLK25 ) Wednesday closed up +1.17 (+1.86%), and May RBOB gasoline (RBK25 ) closed up +0.0190 (+0.94%). Crude oil and gasoline prices on Wednesday rallied moderately. Wednesday's slide in the dollar (DXY00 ) was supportive of crude prices. Also, the prospects of de-escalating US-China trade tensions...

Barchart

Trump’s chip restrictions could slash Nvidia’s revenue by 10%, Wedbush analysts say

Expect Nvidia revenues to drop in future quarters, analysts wrote after the administration blocked the chipmaker from selling its key chip to China.

Fortune

UK officials label trade documents ‘secret’ to shield from US eyes amid Trump tariff war

Exclusive: civil servants beef up security rules for sensitive negotiating papers over fears posed by hostile US trade policy

The Guardian - UK

Trump Touts Trade Talks, China Calls Out Tariff 'Blackmail'

US President Donald Trump touted tariff negotiations with Japan on Wednesday while China angrily accused Washington of "blackmail" in a trade war that the WTO warns will have "severe" economic consequences for the global economy.

International Business Times

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The Guardian - UK

The Guardian view on UK-China relations: a dilemma made sharper by Brexit

Editorial: The Eurosceptic model of a globalised Britain detached from its local continent has aged very badly in the era of Trump’s trade wars

The Independent UK

AP PHOTOS: Exporters at China’s largest trade fair look to non-US markets for survival

Exporters attending China’s biannual trade fair in Canton were emphatic about the need to look beyond selling to Americans.

The Guardian - UK

Advantage China? Plus saving British Steel

Beijing’s game plan to best Trump in the tariff wars

Evening Standard

US stocks drop after Nvidia warns over hit from controls on China exports

London’s FTSE was retreating during the day, but made headway later in the afternoon following gains from mining and energy stocks.

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news in one place.

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Barchart

Should You Buy Apple Stock After Trump Exempts Electronics From Sky-High China Tariffs?

Apple stock briefly rallied on news that Trump would temporarily exclude consumer electronics products from 125% import taxes levied on China.

TechRadar

Zeekr's new 007 GT looks like the ultimate family EV – with 10-minute charging and over 500 miles of range

Zeekr has launched a sleek, grand touring 'shooting brake' version of its 007 sedan available in China – and it should eventually go global, too.

Barchart

Nvidia Stock Is Plunging on Trump’s Export Restrictions: Time to Buy?

Nvidia stock is trading sharply lower today after the Trump administration barred the company from exporting its H20 chips to China. Should you buy the dip?

InsideEVs

I Went To China Twice To Drive EVs. Here's What Blew Me Away Most

Perhaps it’s a tired trope to say so much of East Asia is in the future. But it really does feel like China is living in a tech-utopian world only fantasized about in novels and movies.

Fortune

The 14 Fortune 500 stocks most exposed to the tariff war: Target, Polaris and more

Other companies hit hard include a medical device maker, a semiconductor firm and the maker of Vans sneakers.

Al Jazeera

As US and China escalate trade war, the world asks, ‘Who will blink first?’

US President Donald Trump says ball is in China’s court, but analysts say Beijing is prepared to withstand trade war.

Barchart

Crude Prices Climb on Possible De-Escalation of US-China Trade Tensions

May WTI crude oil (CLK25 ) today is up +1.27 (+2.07%), and May RBOB gasoline (RBK25 ) is up +0.0139 (+0.69%). Crude oil and gasoline prices today are moderately higher. Today's slide in the dollar is supportive of crude prices. Also, the prospects of de-escalating US-China trade tensions are positive...

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