China
Trump insisted that a meeting with China had taken place regarding tariff negotiations, despite Beijing denying any such talks. Investors, however, saw signs of a de-escalation in the trade war, as küresel stock markets recovered most of the losses in April.
Beijing’s offer to lift sanctions on MEPs comes amid growing speculation of an impending EU-China reset in reaction to Donald Trump’s tariffs.
Despite the latest developments, the EU’s policy on China will remain based on “de-risking” rather than “decoupling”, Brussels has said.
The United States and the Philippines launched their annual joint military drills on Monday, involving around 14,000 troops in full-scale combat scenarios designed to strengthen defence cooperation and regional security.
Indonesia and China vow to strengthen maritime cooperation, including joint security efforts in the South China Sea, amid ongoing tensions over Beijing’s activities near the Natuna Islands.
Beijing has vowed to retaliate if other countries strike trade deals with the United States at the expense of China’s interests, in response to news that the Trump administration is pressuring trading partners to isolate China in negotiations.
The Trump administration announced new fees on Chinese-built vessels on Thursday, stating that the move aims to “begin to reverse Chinese dominance, address threats to the US supply chain, and send a demand signal for US-built ships.”
China has publicly always maintained its neutrality in the Ukraine conflict, but Beijing has provided diplomatic backing and economic support to Russia since the full-scale invasion of Ukraine began in 2022.
The Chinese president concluded his Southeast Asian tour in Cambodia, meeting top officials to strengthen ties and discuss trade amid US tariff concerns.
US President Donald Trump has launched an investigation into critical minerals, signalling further tariffs in the natural resources sector. The move follows Beijing’s announcement of export restrictions on rare earths, marking an escalation in the trade war between the world’s two largest economies.