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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. French jet engine maker Safran said China had granted tariff exemptions for imports of some aerospace parts, even as it warned that the constantly shifting tariff landscape made it difficult to measure the impact on its business. Chief executive Olivier Andriès said China had exempted “any deliveries of engines, nacelles [engine casings], landing gears or parts” from import taxes, adding that it was a sign of the fluidity of the…

To paraphrase Patek Philippe, in America you never actually own a Chinese ADR. You merely look after it for its Hong Kong-listed parent company. Almost 300 Chinese companies have listings on US exchanges, and most of these are in the form of ‘American depositary receipts’. In essence, these give US investors a claim over the underlying shares of an overseas company. Prominent ADR issuers include the likes of Alibaba, PDD and JD, and the aggregate market cap is over $1tn, so this is not a niche thing. Dual-listed ADRs can…

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Apple plans to shift the assembly of all US-sold iPhones to India as soon as next year, factories in China have begun slowing production and furloughing some workers in the aftermath of US tariffs, and Alphabet shares rose after it reported first-quarter profit surged 46 per cent. Plus, the Trump administration wants to stamp out one of America’s enduring financial pastimes: writing paper cheques. Mentioned in this podcast: Alphabet shares jump as Google search boosts profits Apple aims to source all US iPhones from India in pivot from China A…

Stay informed with free updates Simply sign up to the Mining myFT Digest — delivered directly to your inbox. Donald Trump has directed the US government to speed up permitting for deep-sea metals projects in an effort to kick-start the nascent industry and wrest control of critical mineral supply chains from China. The president on Thursday signed an executive order aimed at rapidly developing the exploitation of minerals deep below the ocean surface by expediting licensing, mapping the seabed and identifying opportunities for miners. “It will unleash America’s offshore critical…

Stay informed with free updates Simply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox. The writer is professor of law at the Gould School of Law, University of Southern California, and author of ‘High Wire: How China Regulates Big Tech and Governs Its Economy’ Last week, the US further tightened its restrictions on semiconductor sales to China, triggering sharp declines in the stock prices of US chipmakers Nvidia and AMD. Washington seems determined to double down on export controls in its quest for supremacy…

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Beijing has called on the US to “completely cancel all unilateral tariff measures” if it wants trade talks, in some of China’s strongest comments yet on the impasse between the world’s two economic superpowers. Beijing on Thursday also said there were “currently no economic and trade negotiations between China and the United States”, despite recent signs of softening on dispute from Washington. US Treasury secretary Scott Bessent has…

Unlock the White House Watch newsletter for free Your guide to what Trump’s second term means for Washington, business and the world Say what you like about Scott Bessent, but the Treasury secretary’s insistence on claiming logic in every tergiversation of Donald Trump’s haphazard tariff policy is providing much amusement abroad. Bessent and other administration officials are now beetling around the world desperately trying to sign dozens of trade deals while fractious financial markets metaphorically hold a gun to their heads, and we’re asked to believe it is all a…