The Apec Economic Leaders’ Meeting is just over a month away. Hosted in the ancient Korean capital of Gyeongju, the summit will bring together leaders from the 21 members of the Asia-Pacific Economic Cooperation forum. With both the US and Chinese presidents expected to attend, the gathering is poised to serve as a significant diplomatic stage against the backdrop of mounting tensions on the Korean peninsula and growing uncertainty in global affairs. Advertisement After North Korean leader Kim Jong-un’s appearance at China’s recent Victory Day military parade, signs have emerged…
Month: September 2025
US set to honour 15% tariff cap on drugs from the EU and Japan
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world The Trump administration is set to honour a 15 per cent tariff cap on pharmaceutical imports from the EU and Japan, providing a significant relief from the 100 per cent levy on drugs announced by the US president on Thursday. The 15 per cent ceiling is in line with trade deals that Japan and the EU have with the US. It was first reported by CNBC. Late on…
India-US trade talks on UN sidelines fail to break impasse
Top trade negotiators from India and the United States failed to resolve their tariff dispute during talks on the sidelines of the United Nations General Assembly in New York this week, with New Delhi urging Washington to drop levies linked to Russian energy imports, according to multiple sources with knowledge of the negotiations. Advertisement US Trade Representative Jamieson Greer met Indian Commerce and Industry Minister Piyush Goyal on Monday. The pair were joined by US Secretary of State Marco Rubio, Indian Foreign Minister Subrahmanyam Jaishankar and Sergio Gor, a close…
US judge upholds Pentagon listing of DJI as Chinese military-linked firm
A US federal judge on Friday rejected a push by Shenzhen-based DJI, the world’s largest drone manufacturer, to be removed from the Pentagon’s blacklist of companies allegedly linked to China’s military. Advertisement In his opinion, US District Judge Paul Friedman in Washington said the Department of Defence had substantial evidence supporting its finding that DJI, which accounts for over half of all US commercial drones, contributes to the “Chinese defence industrial base”. DJI had filed a suit last October seeking its removal from the Pentagon list, arguing that it “is…
A new age of the train
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. On September 27 1825 a steam train crowded with excited passengers travelled 26 miles from Shildon via Darlington to Stockton in north-east England. It broke down on route, and one man fell off and had his foot crushed. But the journey is recognised as the birth of the railway age, which was to transform human mobility, business and social life around the globe. Two centuries later, trains remain an essential…
Li Qiang touts China’s global vision at UN, slams Washington isolationism
Chinese Premier Li Qiang urged the United Nations on Friday to embrace multilateral values and a stable global order, took pointed swipes at the US and called for reforms that reflect Beijing’s development model. Advertisement “Solidarity lifts everyone up,” Li said, without mentioning US President Donald Trump by name. “History keeps reminding us that when might dictate right, the world risks division and regression.” “Should the era of the Law of the Jungle return and the weak be left as a prey to the strong, human society would face even…
TikTok’s Chinese owner set for outsized share of US profits under Trump deal
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Washington and Beijing’s TikTok deal will hand ByteDance roughly 50 per cent of the app’s American profits despite US shareholders owning the majority of the business, according to people familiar with the talks. Five people briefed on the deal, which the White House said valued the spin-off at $14bn, said that valuation related to a new joint venture between ByteDance and new investors to operate the app’s American…
ByteDance in line for 50% of profits from $14bn TikTok US spin-off
Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Washington and Beijing’s TikTok deal will hand ByteDance roughly 50 per cent of the app’s American profits despite US shareholders owning the majority of the business, according to people familiar with the talks. Five people briefed on the deal, which the White House said valued the spin-off at $14bn, said that valuation related to a new joint venture between ByteDance and new investors to operate the app’s American…
Could PLA’s AI-powered kill web evolve to a Skynet?
In the Terminator films, humanity launches an all-out assault in 2029 on Skynet’s central node deep within Cheyenne Mountain – only to realise that the artificial intelligence has no single point of failure. Advertisement Skynet is not a monolithic system, but a distributed, self-healing network, capable of surviving total infrastructure collapse and resurrecting itself almost instantly. This network is designed to persist through destruction, bearing an unsettling resemblance to Skynet’s structure and survivability. At a defence technology conference in Tianjin this month, engineers from Tianjin 712 Communications & Broadcasting Co…
TikTok deal: for US-China investments, is this a new normal or reciprocity risk?
As US President Donald Trump signed an executive order on Thursday to bring the widely watched TikTok dispute closer to a resolution, the move fuelled expectations of broader US-China trade deals when their leaders are expected to meet next month. Advertisement The proposed divestiture, meanwhile, has also raised questions about the fate of Chinese and American companies investing and operating in each other’s markets. In the latest development in the saga involving the short-video app, Trump wrote in the Thursday order that divestiture of the influential platform under Chinese firm…