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Trade
News about international trade flows, statistics and policy decisions from the world’s most important trading economies and trade-related bodies, including the World Trade Organisation.
US President Donald Trump holds a chart as he delivers remarks on tariffs at the White House in April 2025. Photo: TNS
United States

US government appeals against judge’s order for Trump tariff refunds

The processing of repayments has already begun, but the appeal could affect the operation, with US$166 billion in revenue at stake.

Hong Kong economy

‘At least 1 firm under Kazakh wealth fund will list in Hong Kong this year’

United States–Mexico–Canada Agreement (USMCA)

Canada and Mexico tell US they want free trade deal renewed

China-Latin America relations

China opens door to all Brazilian beef, then slams it with a 55% surtax

Recognition lifts a long-standing sanitary barrier, but an import quota in force since January caps how far Brazilian beef sales can grow.

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A butcher weighs meat at a butcher shop in Rio de Janeiro, Brazil. Photo: AFP
US-China relations

US and China have ‘no choice’ but to talk despite ‘long-term problems’: Rubio

Top diplomat said dialogue was essential to prevent tensions over Taiwan, trade and security from escalating into a broader conflict.

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United States

US proposes 25% tariff to punish Brazil over trade practices

The measures cover areas such as electronic payment services, preferential tariffs, intellectual property protection and the ethanol market.

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China-EU relations

Putin in Beijing, ‘China shock’ in EU: 7 global relations reads

From ‘miscalculation’ by the Dutch navy to China on Iran mediation, here are highlights from the SCMP’s overseas correspondents in May 2026.

Russian President Vladimir Putin and Chinese President Xi Jinping attend a welcoming ceremony at the Great Hall of the People in Beijing. Photo: AP
China-Latin America relations

US’ Cuba-China fears, Panama pressure: Latin America relations reads

From Argentina’s shrinking China lifeline to the US’ Cuba worries, here are highlights from the SCMP’s foreign correspondents in May 2026.

Indonesia

Prabowo’s overseas visits spark debate in Indonesia over benefits for citizens

Several deals signed in Paris have led to discussions on their merit and the frequency of Prabowo’s official trips around the world.

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China trade

Australian beef will soon be hit by 55% tariff in China, ministry says

China’s imports of Australian beef are about to surpass a quota introduced by Beijing to protect domestic farmers.

Farmers look at cattle at a weekly livestock sale in New South Wales, Australia. China is a major export market for Australian beef producers. Photo: AFP
China manufacturing

China’s overseas expansion fuelled by government subsidies: OECD report

While OECD figures suggest subsidies have driven Chinese firms’ rapid growth abroad, a Chinese chamber of commerce questioned the report’s standards.

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Welding robots weld a heavy truck cab at an industrial park of Sany, China’s leading heavy equipment manufacturer. A report has revealed Chinese companies are heavily backed by government subsidies which is fuelling their global market expansion. Photo: Xinhua
China-Latin America relations

China urges Brazil to jointly repel ‘external challenges’ as ties deepen

Foreign Minister Mauro Vieira meets Wang Yi and Han Zheng as Brazil seeks key stable fertiliser supply amid US-Iran conflict.

Hong Kong economy

Make use of Hong Kong’s advantages, John Lee urges Kazakhstan leaders, companies

Lee meets President Kassym-Jomart Tokayev as delegation seals wide range of partnership deals on first day of Central Asia trip.

Science

China team drafts sanctions list targeting US, allies on 63 key tech sectors

Scientists have listed sensitive or globally competitive tech that may benefit from export restrictions to keep them out of foreign hands.

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A Chinese team has drawn up a list of sensitive or globally competitive technology sectors that could benefit from export restrictions to the US and its allies. Illustration: Shutterstock
US-China relations

Xi-Trump aftermath, space tactics, AI policy change: 7 US-China relations reads

From Xi-Trump meeting analysis to soybean worries and tech plans, here are highlights from our correspondents in the second half of May 2026.

China[s President Xi Jinping gestures as he meets with US President Donald Trump during a visit to Zhongnanhai Garden in Beijing on May 15. Photo: AFP
China trade

‘Unsustainable’: firms face huge spike in shipping costs amid Hormuz crisis

Shipping lines say they have no choice but to pass on steep cost rises, as the Iran war sparks a fuel crisis that could last well into next year.

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US-China relations

Opinion | US quietly plays the long game on energy dominance against China

Behind the Trump administration’s detente with Beijing lies a strategy to redirect global energy flows and disrupt Chinese competitiveness.

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China-Japan relations

China and Japan aren’t talking. Will their rare earth trade go quiet?

With bilateral relations at a low and Beijing already enacting limited export controls on critical minerals, fears of a broader ban grow.

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Illustration: Victor Sanjinez Garcia
Indonesia

Chasing billions: Indonesia’s commodity export crackdown sows confusion

New export rules promise billions in recovered revenue, but analysts warn the ensuing chaos could cost more than the gains.

US-Asean relations

Tariffs, war and broken trust: Southeast Asia’s Trump problem

Disillusioned by US unpredictability, the region is learning to diversify – while Trump treats allies as bargaining chips.

US, Israel war on Iran

Why the Shanghai Cooperation Organisation isn’t Nato for Iran

Central Asian members in particular see bloc’s main value as preserving their sovereignty rather than enabling collective military action.

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Illustration: Henry Wong
Asean

Opinion | Why the Philippines walks a delicate balance as Asean chair

Manila’s success at the helm will depend on its ability to make the Association of Southeast Asian Nations more operational than before.

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Illustration: Craig Stephens
Canada

Canada might double exports to China, Wang Yi says during rare visit

Wang is on a three-day ⁠trip to Canada, the first such visit by a Chinese foreign minister in a decade.

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China-EU relations

Brussels agrees on tougher China trade policy, as Beijing vows retaliation

Trade chief details why bloc needs to take stronger steps to defend itself from what is described as a new ‘China shock’ to its industries.

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United States

US judge freezes Trump ‘slush fund’ for allies

Opponents of the fund say it could be used to reward loyalists, including defendants convicted of crimes related to the January 6 riots.

US President Donald Trump at the Kennedy Center in Washington, DC in January. The decision to block the fund is another setback for one of Trump’s most politically explosive second-term initiatives. Photo: AFP
European Union

EU’s 6 biggest economies agree on capital markets supervision

It is part ‌of a bid to boost EU’s competitiveness as it struggles with weak growth and fierce competition from the US and China.

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European Union flags flap in the wind outside EU headquarters in Brussels. The ⁠other 21 EU member states still need to agree to the proposals. Photo: AP
China trade

China-led SCO bloc looks to fast-track plan for new bank, rival Western lenders

Member states seek more financial autonomy and localised credit by advancing an effort to fund regional growth using their national currencies, not the US dollar.

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South Korea

Video | South Korea is world’s second-largest cosmetics giant

K-beauty exports hit US$11.4 billion in 2025, overtaking the US to rank second only to France.

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