US and China agree to framework deal to restore trade war truce

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The US and China have agreed to a framework that restores a truce in their trade war after two days of marathon negotiations in London. The breakthrough late on Tuesday followed an agreement in Geneva last month aimed at easing trade tensions between the world’s two economic superpowers, which had faltered over differences regarding Chinese rare earth exports and US export controls. The US team, which included commerce secretary Howard…

China’s J-20 stealth fighter’s radar leap credited to semiconductor scientist Xu Xiangang

China’s J-20 stealth fighter has tripled its radar detection range, thanks to semiconductor advancements over the past two decades led by Shandong University scientist Xu Xiangang, according to the university. Advertisement A silicon-carbide (SiC) semiconductor material developed by Xu’s team had powered a threefold increase in the detection range of phased array radar systems, allowing Chinese radars to swiftly detect enemies and gain the first-mover advantage, the university said on its social media page. “From the J-20’s on-board systems to advanced weaponry, this ‘Chinese chip’ is crucial for national security,”…

US says it struck framework deal with China to restore trade war truce

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. US commerce secretary Howard Lutnick said American and Chinese negotiators had agreed a framework deal to restore a truce in their trade war after marathon negotiations in London. The breakthrough restores the trade war ceasefire reached in Geneva last month that had faltered because of differences over Chinese rare earth exports and US export controls. The US team would return to Washington to present the deal to President Donald Trump,…

Chinese EV battery maker Eve Energy jumps on Hong Kong IPO bandwagon

Eve Energy, China’s fifth-largest producer of electric vehicle (EV) batteries, plans to raise fresh capital on the Hong Kong stock exchange, following the lead of its bigger rival Contemporary Amperex Technology (CATL) as international investors show a growing appetite for the country’s industrial gems. Advertisement The Shenzhen-listed company said on Tuesday that its board had endorsed a fundraising plan aimed at bolstering its international expansion, but details about the share offering were still in the works. The flotation would “enhance the company’s capital strength, overall competitiveness and international brand awareness”,…

‘Making a dent’: race is on to reap rare earths elsewhere amid China’s dominance

Beijing’s imposition of rare earth export restrictions from April – playing its trump card in the face of Washington’s intensifying tariffs and tech curbs – helped send a message to Washington ahead of this week’s discussions over bilateral export-control issues. Advertisement Considered a trump card because rare earths have an outsized impact on auto, electronics and defence industries, and China dominates the supply chain, the trade in such critical minerals is widely expected to be among the key topics this week in discussions between high-ranking US officials and Chinese Vice-Premier…

US-China trade talks in London poised to enter third day

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. American and Chinese officials were preparing for a possible third day of trade talks in London as US Treasury secretary Scott Bessent departed the city to return to Washington for an appearance before Congress on Wednesday. Howard Lutnick, the commerce secretary who joined Bessent along with US trade representative Jamieson Greer for the negotiations, earlier told reporters that the talks were going well and could stretch into a third day.…

FirstFT: US says trade talks with China ‘going well’

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: The latest on US-China trade talks Pakistan’s military spending spree What Nintendo teaches us about the modern world We start in London, where the US and China have been holding high-stakes talks to end the trade war between the world’s largest economies. Here’s what…

Why red tape is a bigger risk than US for China’s military-civilian fusion plan

For decades, China’s talk of letting the private sector bid for defence orders had mostly been just that: talk. Advertisement State-owned conglomerates had dominated the sector for decades, but in the middle of 2016, Beijing started to step up its military-civilian fusion strategy, publishing an official list of the sectors where private firms were being encouraged to contribute, such as swarming drone technologies. The plan is a central pillar of China’s ambition to develop a modernised military by 2035 and world-class armed forces by 2049. Most details of the military-civilian…

US resettlement freeze leaves Vietnamese refugee fearing deportation from Thailand

Vietnamese asylum seeker An and his family had one foot in the door to resettlement in the United States — until President Donald Trump issued an executive order that closed it. The Jan. 20 executive order was just the beginning of his problems. On May 27, his wife Ngoc got a phone call from her husband. “I’ve been arrested by the police,” An told her. He’d been arrested by Thai police in Bangkok where his family of four had sought asylum seven years earlier and were waiting patiently for resettlement.…

EU in Latin America touts itself as ‘just’ partner amid US-China rivalry

European Union officials used a major security conference in Brazil on Tuesday to present the bloc as a stable and predictable partner, citing growing instability tied to the strategic rivalry between the United States and China. Advertisement Speaking at the Forte de Copacabana International Security Conference, Brian Glynn, the European External Action Service’s managing director for the Americas, said the EU was not seeking to distance itself from either power. “The export-led, fossil fuel-driven economy is the past,” said Glynn, referencing China’s growing trade presence in Latin America. “What we…