US claims ‘substantial progress’ after trade talks with China

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Treasury secretary Scott Bessent said the US made “substantial progress” over two days of trade talks with Chinese officials in Geneva, in the first sign that Washington and Beijing might start to ratchet down economic tensions. “We will be giving details tomorrow, but I can tell you that the talks were productive,” Bessent told reporters on Sunday after he and US trade representative Jamieson Greer finished their meetings…

FirstFT: US says ‘substantial progress’ after trade talks with China

This article is an on-site version of our FirstFT newsletter. Subscribers can sign up to our Asia, Europe/Africa or Americas edition to get the newsletter delivered every weekday morning. Explore all of our newsletters here Good morning and welcome back to FirstFT Asia. In today’s newsletter: US expresses optimism over China trade talks Fragile India-Pakistan ceasefire holds Scotch makers toast UK-India trade deal Treasury secretary Scott Bessent yesterday said the US and China had made “substantial progress” over two days of trade talks in Geneva. The optimistic comments were the…

Beware the hubris of an AI narrative centred on the US and China

In the era of heightened geopolitical competition in nascent technologies, it is tempting to view the artificial intelligence (AI) race as centred around two key players – the United States and China. Advertisement At the Politburo’s April 25 economic-analysis meeting, Chinese President Xi called upon the nation to “achieve self-reliance and strength”, according to a Xinhua readout, and “secure a competitive edge in AI” – stopping short of naming the US. Reciprocally, the US views China’s growing technological prowess with wariness – perhaps best epitomised by the Framework for AI…

Chinese companies purge supply chain of foreign parts amid US trade war

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Chinese companies are accelerating a purge of foreign components from their supply chains, as trade tensions with the US threaten to hasten the decoupling between the world’s two largest economies. In the weeks since President Donald Trump hit China with steep tariffs, more than two dozen companies listed in Shanghai and Shenzhen have told investors that they were increasing efforts to source domestic inputs to replace foreign products or expected…

US claims ‘substantial progress’ after two days of trade talks with China

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Treasury secretary Scott Bessent on Sunday said the US made “substantial progress” over two days of trade talks with Chinese officials in Geneva, in the first sign that Washington and Beijing may start to ratchet down tensions. “We will be giving details tomorrow, but I can tell you that the talks were productive,” Bessent told reporters after he and US trade representative Jamieson Greer finished their meetings with…

White House claims China trade deal reached after ‘productive’ Geneva talks

The White House announced on Sunday that a trade deal with China has been struck after two days of talks in Geneva. The announcement, in a press release, comes after US treasury secretary Scott Bessent told reporters that there had been “substantial progress” in talks between his team and that of the Chinese vice-premier, He Lifeng, in Geneva on defusing the trade war between the world’s two largest economies sparked by Donald Trump’s 145% tariffs. In remarks that were posted on social media by the White House, Bessent said he…

No deal in sight yet as China and US enter day 2 of trade talks to cool tariff tensions

Top Chinese and US trade officials held high-stakes talks over the weekend on easing a trade war that has disrupted global supply chains and triggered concerns over a prolonged economic downturn, as the world watched intently for the outcome. Advertisement Chinese Vice-Premier He Lifeng, US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer resumed negotiations in the Swiss city of Geneva shortly after 10am local time on Sunday, according to Agence France-Presse. This followed eight hours of talks in a closed-door meeting on Saturday – the first high-level…

Chinese weapons power Pakistan in Kashmir conflict, but doubts remain

Pakistan’s Chinese-made weapons have shown strength against India’s Western and Russian ones in their clash over Kashmir, but analysts caution that it is too soon to say which side’s arms technology will prove superior in combat. Advertisement Tensions between the nuclear-armed neighbours escalated after India conducted military strikes, dubbed Operation Sindoor, on sites in Pakistan and Pakistan-administered parts of Kashmir on Wednesday. The strikes were in response to a terrorist attack on April 22 in Pahalgam, in Indian-administered parts of Kashmir. The attack killed 26 civilians, most of whom were…

Chinese mathematicians solve the 65-year-old Kervaire invariant problem

Advertisement The feat was made possible through major computational methods which could be applied to further problems in the field. As a result of the breakthrough, the mathematical world finally has proof that manifolds of Kervaire invariant one do exist in dimension 126, ending a decades-long mystery. The Kervaire invariant is a function that measures whether a smooth framed manifold, or a topological space or shape that can have curvature but locally appears flat, can be converted into a sphere through “surgery,” a concept introduced by American mathematician John Milnor…

While China’s EV exports to UK are down, plug-in hybrids are bucking the trend

After years of driving cars from European marques, one self-employed Londoner opted for a change in December and bought an electric vehicle (EV) made by Chinese carmaker MG. Advertisement “I was originally looking at a Tesla, but the price was just a bit too much for me,” he said. “With everything being so expensive these days, I thought ‘why not go for something more affordable?’” He joined a growing number of Britons embracing Chinese car brands. While Chinese electric vehicles have faced mounting headwinds in the European Union – including…