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The Latest Breaking News from China

Afternoon Update: Trump orders US nuclear weapons tests; pre-dawn massacre in Rio favela; and does married sex need a rebrand?

Pentagon instructed to to ‘immediately’ start matching Russia and China in their testing of nuclear weapons

The Guardian - AU

Trump cuts China tariffs after promises from Xi on rare earths, soybeans

Trump described Xi as a "friend" and "great leader" whom it was an "honor" to meet.

Axios

Trump announces deal with China after face-to-face talks with Xi in South Korea

Washington and Beijing are "in agreement on many things," Trump said after the meeting that lasted nearly two hours, the first between both leaders in six years.

Euronews

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Trump Orders Pentagon To Begin Nuclear Weapons Testing 'Immediately' Hours Before Meeting Xi Jinping: 'Hated To Do It, But Had No Choice' (CORRECTED)

Editor’s Note: The headline of this story has been updated to include the missing words from Trump's quote.

Benzinga

Bitcoin, Ethereum dip after Fed chair hints that 25-point rate cut may be last of 2025

The total market capitalization of all cryptocurrencies dropped 1.8% on Wednesday.

Fortune

China says it's on track to land astronauts on the moon by 2030 ahead of space station mission

China said it's on track to land astronauts on the moon by 20230 as it prepared to send another team of astronauts to its space station, as part of its ambitious plans to be a leader in space exploration

The Independent UK

Trump-Xi meeting: US president says rare earths deal and tariff cut agreed

Donald Trump hails ‘amazing’ trade talks with Chinese counterpart, with ‘no roadblock at all on rare earth’

The Guardian - UK

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Trump calls China’s Xi Jinping a ‘tough negotiator’ ahead of meeting amid escalating trade tensions and fragile global markets

High-stakes sit-down follows months of tensions and tariff threats over China’s rare earth export controls

The Independent UK

Trump directs Pentagon to match Russia and China in nuclear weapons testing

US president makes threat after Russian nuclear-powered weapons tests and shortly before meeting with Chinese leader

The Guardian - UK

Senate passes bill to nullify Trump’s sweeping global tariffs on more than 100 nations – as it happened

This live blog is now closed.

The Guardian - US

Trump and China's Xi are meeting in South Korea to try to roll back months of trade tensions

President Donald Trump and Chinese leader Xi Jinping are meeting face-to-face today in South Korea

The Independent UK

Trump's 'Golden Dome' Missile Defense Could Cost $3.6 Trillion: Report

The pie-in-the-sky space system promises to be a government spending bonanza—and might be a very bad idea.

Reason

Stocks Pressured as Fed Chair Powell Downplays Further Rate Cuts

The S&P 500 Index ($SPX ) (SPY ) on Wednesday closed unchanged, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.16%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up by +0.41%. December E-mini S&P futures (ESZ25 ) fell -0.06%, and December E-mini Nasdaq futures...

Barchart

‘Quit voting republican’: Farmers distressed over plummeting soybean prices as Trump continues waging trade wars with China

Since beginning his second term as President of the United States this year, Donald Trump has made one misstep after another, causing distress among Americans. Currently, one of the main sources of unrest among U.S. citizens is the government shutdown and Trump’s tariffs, both of which have led to an…

The Mary Sue

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Barchart

Dollar Rallies on Hawkish Powell

The dollar index (DXY00 ) rallied to a 2-week high on Wednesday and finished up by +0.62%. The dollar found support on Wednesday amid easing global trade tensions, which are supportive of economic growth prospects. The US and South Korea finalized a trade deal on Wednesday that will see South...

The Guardian - UK

Telegraph sale in turmoil after lead bidder linked to China’s politburo

Media group’s own paper publishes photograph of RedBird Capital chair with alleged spy ring chief

The Conversation

The rise and fall of globalisation: why the world’s next financial meltdown could be much worse with the US on the sidelines

This is the second in a two-part series. Read part one here.

The Conversation

Chinese controls on rare earths could create challenges for the west’s plans for green tech

China recently announced that it was putting new controls on the export of rare earth elements, sparking a new round in the country’s ongoing trade war with the US.

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Barchart

Fed Delivers Expected Rate Cut While Signaling End to Balance Sheet Reduction

The S&P 500 Index ($SPX ) (SPY ) today is up by +0.13%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up by +0.23%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up by +0.53%. The Federal Reserve delivered a widely anticipated policy decision this afternoon,...

Tom’s Hardware

China deploys wind-powered underwater data center off Shanghai coast — $226 million project could top 24 megawatts, harnessing the cooling power of the sea

China has launched what it claims is the world’s first wind-powered undersea data center — a sealed, seawater-cooled cluster sitting 35 meters beneath the surface off the coast of Shanghai.

Euronews

This is how dependent Germany is on Chinese medicines

Germany sold more than 15 million tonnes of pharmaceutical products to China in 2024, while China sold more than 33 million tonnes to Germany.

Barchart

Dollar Climbs as Global Trade Tensions Ease

The dollar index (DXY00 ) today is up by +0.18%. The dollar is climbing today on easing global trade tensions, which are supportive of economic growth prospects. The US and South Korea finalized a trade deal today that will see South Korea make $150 billion in shipbuilding investments and cap...

Fortune

Nvidia is officially the world’s first $5 trillion company. CEO Jensen Huang says it’s on track for ‘half a trillion dollars’ in revenue

Nvidia reached the $5 trillion threshold just three months after becoming the first company to hit $4 trillion.

Euronews

Nvidia becomes first company to pass $5 trillion market capitalisation

Nvidia's value is now greater than the GDP of India, Japan and the United Kingdom, according to the International Monetary Fund.

InsideEVs

Toyota Bet Right On Hybrids. Its Timing On EVs May Pay Off Next

Plus, China's getting ready to pull the plug on EV subsidies, and Rivian says it's not ready to tap a U.S. government loan yet.

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