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…
Tag: International trade
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…
Influx of cheap Chinese imports could drive down UK inflation, economists say
As Trump’s tariffs take effect, Britain is likely alternative destination for cars, telecoms and sound equipment Business live – latest updates The UK is poised for an influx of cheap Chinese imports that could bring down inflation amid the fallout from Donald Trump’s global trade war, leading economists have said. After figures showed China’s trade surplus surpassed $1tn (£750bn) despite Washington’s tariff policies hitting exports to the US, the Bank of England said the UK was among the nations emerging as alternative destinations for the goods. Continue reading… The Guardian
The second China shock is coming – and the UK’s response is too timid | George Magnus
Emmanuel Macron came back from China in early December empty-handed. The French president’s appeal to his Chinese counterpart, Xi Jinping, to help stop the war in Ukraine was never going to gain traction given Beijing’s unqualified support for Russia. Urging Xi to address China’s surging trade surplus, the result of the country’s economic and industrial policies, predictably also fell on closed ears. In any event, Xi’s main concerns were the imminent final politburo meeting of the year and the annual Central Economic Work Conference (CEWC) that followed. Centre stage was…
China hits EU dairy industry with tariffs of up to 42.7%
China will impose provisional duties of up to 42.7% on certain dairy products imported from the EU from Tuesday after concluding the first phase of an anti-subsidy investigation widely seen as retaliation for the bloc’s electric vehicle tariffs. The tariffs will range from 21.9% to 42.7% – although most companies will pay about 30% – and target products such as milk and cheese, including protected origin brands such as French roquefort and Italian gorgonzola. The European Commission attacked the decision as “unjustified and unwarranted” and said it was examining it…
China has set a bear trap for Keir Starmer – and our naive PM is walking straight into it | Simon Tisdall
The UK pushed hard to secure the release of Jimmy Lai, the newspaper publisher and British citizen who was a leading light in Hong Kong’s brutally suppressed pro-democracy movement. So, too, did press freedom and human rights campaigners. But the Beijing-appointed high court judges in the former colony convicted him anyway, finding Lai guilty last week on fake charges of trying to “destabilise” the Chinese Communist party (CCP). For Xi Jinping, China’s dictator-emperor, there is no greater crime. Protesting to China’s ambassador, the UK’s foreign secretary, Yvette Cooper, condemned the…
China’s record trade surplus reveals its biggest strength – and hidden weakness
A boom in exports that has pushed China’s trade surplus past $1tn for the first time reveals the extent to which its economy is still overwhelmingly reliant on foreign markets – and the difficulty figures like Donald Trump will have in trying to rebalance global trade. Data released on Monday shows that in the first 11 months of this year, China’s trade surplus in goods was $1.076tn. The record trade surplus comes even as exports to the US have plummeted, a reflection of the bruising US-China trade war that, despite…
Netherlands suspends state seizure of Chinese chipmaker Nexperia
The Netherlands has suspended its seizure of the Chinese-owned chipmaker at the heart of a six-week dispute between the EU and China that threatened to halt car production at sites around the world. The Dutch minister of economic affairs, Vincent Karremans, said in a statement on Wednesday that the government would suspend its decision to take supervisory control of Nexperia as a gesture of “goodwill” to Beijing. “In light of recent developments, I consider it the right moment to take a constructive step by suspending my order under the Goods…
China suspends seafood imports from Japan as Taiwan row escalates
China has suspended imports of Japanese seafood again, as the fallout over the Japanese prime minister’s comments about Taiwan continues to escalate in one of worst bilateral disputes in years. The ban was first reported on Wednesday by the Japanese outlets Kyodo News and NHK, and appeared to be confirmed by China’s foreign ministry, which said there was “no market for Japanese seafood in the current climate”. The reports said China’s government had informed Japan it was suspending all seafood imports, months after it partly lifted a previous ban issued…
Nexperia row shows how China is weaponising trade – and winning
As interventions go it was pretty audacious. The Dutch government decision at the end of September to take over Nexperia, a Chinese-owned chip factory, almost brought the entire European car industry to a halt. Tensions between Europe and China de-escalated over the weekend as Beijing confirmed it would ease restrictions on automotive chip supplies to the EU, prompting sighs of relief in car factories around the world. But it has only intensified the questions about the EU’s asymmetric relationship with China, with many in industry, diplomacy and governments asking if…