China has overtaken the US as Germany’s top trading partner, figures have shown, as the chancellor, Friedrich Merz, prepares for his first visit to Beijing since taking office. Merz will head to China on Tuesday and will be welcomed with military honours on Wednesday in Beijing by the prime minister, Li Qiang, before later meeting the president, Xi Jinping, for talks over dinner, his spokesperson, Sebastian Hille, said. Germany’s Federal Statistical Office released figures on Friday showing that China is back on top as the country’s most important market with…
Tag: International trade
US and Japan unveil $36bn of oil, gas and critical minerals projects in challenge to China
Japan has drawn up plans for investments in US oil, gas and critical mineral projects worth about $36bn under the first wave of a deal with Donald Trump. The US president and Sanae Takaichi, Japan’s prime minister, announced a trio of projects including a power plant in Portsmouth, Ohio, billed by the Trump administration as the largest natural gas-fired generating facility in US history. As a diplomatic row between Japan and China over the security of Taiwan continues, testing the Japanese economy, Takaichi said the projects would strengthen her country’s…
Trump unveils $12bn critical minerals stockpile scheme in apparent move to counter China’s dominance
Donald Trump has announced the creation of a critical mineral reserve worth nearly $12bn, a stockpile that could counter China’s ability to use its dominance of the hard-to-process metals as leverage in trade talks. “Today we’re launching what will be known as Project Vault to ensure that American businesses and workers are never harmed by any shortage,” Trump said at the White House on Monday. He compared it to the Strategic Petroleum Reserve (SPR), which was created in the 1970s when an Arab oil embargo led to a disruptive shortage…
Chinese car firm Chery to open European base in Liverpool
Chinese carmaker Chery is to open a research and development headquarters in Liverpool, in a move that could pave the way for a deal for the British manufacturer Jaguar Land Rover to build its cars. State-owned Chery’s commercial vehicle arm will base the headquarters for its European operations on Merseyside, including research, engineering, and commercial functions. Chery has already made a mark in the UK car market through its Omoda and Jaecoo brands, and it is launching its eponymous brand with an advertising campaign featuring former England footballer Peter Crouch.…
What happened when Starmer met Xi Jinping? – podcast
Keir Starmer held talks with the Chinese leader Xi Jinping this week and proclaimed Britain should have a more ‘sophisticated’ relationship with China. Pippa Crerar, who was with the prime minister on the trip, tells Kiran Stacey what all this means The Guardian
Burner phones and lead-lined bags: a history of UK security tactics in China
When prime ministers travel to China, heightened security arrangements are a given – as is the quiet game of cat and mouse that takes place behind the scenes as each country tests out each other’s tradecraft and capabilities. Keir Starmer’s team has been issued with burner phones and fresh sim cards, and is using temporary email addresses, to prevent devices being loaded with spyware or UK government servers being hacked into. The employment of such tactics may sound dramatic but they are par for the course in an age of…
Starmer’s fraught visit to China will tell us what he really thinks of the UK’s place in the world | Peter Frankopan
This week, Keir Starmer will reportedly visit China. This will be the first trip of this kind by a British prime minister since Theresa May’s three-day visit to Beijing in 2018. Since then, relations between London and Beijing have become increasingly fraught, caught between growing security concerns and deep economic interdependence. Allegations of espionage and influence operations have sharpened political and public suspicion in the UK, even as deep trade links and supply chains on which the country depends make disengagement unrealistic. As fierce debate about the recent approval for…
Keir Starmer to visit China with British business leaders next week, say reports
Keir Starmer will reportedly visit China next week after controversial plans for Beijing to build a vast embassy in London were approved by his government. The UK prime minster will lead a delegation of blue-chip British companies, according to Reuters. The same firms, which include BP, HSBC, Intercontinental Hotels Group, Jaguar Land Rover and Rolls-Royce were also said to be among those who will join a revamped “UK-China CEO council”. There was no comment from Downing Street early on Wednesday. However, Jonathan Powell, the national security adviser, went to Beijing…
China blocks Nvidia H200 AI chips that US government cleared for export – report
Suppliers of parts for Nvidia’s H200 have paused production after Chinese customs officials blocked shipments of the newly approved artificial intelligence processors from entering China, according to a report. Reuters could not immediately verify the report, which appeared in the Financial Times citing two people with knowledge of the matter. Nvidia did not immediately respond to a Reuters request for comment made outside regular business hours. Nvidia had expected more than one million orders from Chinese clients, the report said, adding that its suppliers had been operating around the clock…
Mark Carney in China positions Canada for ‘the world as it is, not as we wish it’
Mark Carney’s trip to Beijing this week secured what he described as a “preliminary but landmark” trade deal and a recognition – welcomed by Beijing – that countries are operating in a “new world order”. Carney’s visit is the first time in nearly a decade that a Canadian prime minister has been welcomed in Beijing. It comes after years of a deep freeze in the relationship between Ottawa and Beijing that Carney wants to thaw, in order to reduce his country’s precarious reliance on the United States. Guy Saint-Jacques, a…