The Canadian prime minister, Mark Carney, has warned that the era of free trade and investment that formed the foundations of the postwar global economy has ended. In a stark message to Asia-Pacific leaders at the Apec summit in South Korea on Friday, Carney said rules-based open trade no longer worked in a global economy that was undergoing one of its most profound periods of change since the fall of the Berlin Wall in 1989. “The old world of steady expansion of rules-based liberalised trade and investment, a world on…
Tag: World news
Why is Trump talking about nuclear weapons? – podcast
Less than an hour before Donald Trump met the Chinese president, Xi Jinping, to discuss a deal that could end the trade war between the two superpowers, the US president posted on Truth Social that he had directed the Pentagon to match Russia and China in nuclear weapons testing. Jonathan Freedland speaks to Jonathan Czin, the former director for China at the National Security Council, about why Trump did this and whether he or Xi left South Korea feeling the strongest The Guardian
Radio Free Asia suspends news operations amid cuts and US government shutdown
Radio Free Asia (RFA) has said it is suspending its news operations due to the US government shutdown and the Trump administration’s cuts to government-funded news services. “RFA has been forced to suspend all remaining news content production – for the first time in its 29 years of existence,” said Bay Fang, RFA’s president and CEO, in a statement. “In an effort to conserve limited resources on hand and preserve the possibility of restarting operations should consistent funding become available, RFA is taking further steps to responsibly shrink its already…
Britain would do well to remember where its power over China lies | Simon Jenkins
It’s ridiculous for the government to splurge on defence while it slashes spending on its most valuable asset: culture The US has backed down in its tariff war with China. Thanks to Donald Trump’s egotistical diplomacy, rare earths can again flow one way, soya beans the other, and less of the chemicals used to make fentanyl in between. No matter that the war was Trump’s own idea and seems to have been a stunt. The stunt is over. Trump has played his favourite game of dealmaker, much to the discomfort…
Trump-Xi meeting shows price of confrontation was too high for both sides
Outcome appears closer to truce than durable peace but outline of broader diplomatic relationship is visible Five key takeaways from Trump-Xi meeting When Donald Trump launched his trade war against China in April, threatening tariffs as high as 145%, the Chinese government said it would never bow to blackmail and vowed to “fight to the end”. The question now is whether the consensus reached between Trump and Xi Jinping in Busan, South Korea, on Thursday means that the fight really has come to an end, and if so on whose…
Five key takeaways from Donald Trump’s meeting with Xi Jinping
As Donald Trump flew out of Busan airport in South Korea after his meeting with China’s Xi Jinping, the US president sounded upbeat about progress made during less than two hours of talks. Trump discussed the outcome of the meeting, which he described as a 12 on a scale of one to 10, with “an outstanding group of decisions made”. He added: “We’ve come to a conclusion on many important points.” A Chinese statement quoted Xi saying the two countries had “good prospects for cooperation”, and relations had maintained “overall…
Trump directs Pentagon to match Russia and China in nuclear weapons testing
Donald Trump has instructed the Pentagon to immediately start matching other nuclear powers in their testing of nuclear weapons, specifically citing Russia and China. In a post to Truth Social, Trump said that “because of other countries’ testing programs, I have instructed the Department of War to start testing our Nuclear Weapons on an equal basis. That process will begin immediately.” The post came less than an hour before Trump met the Chinese president, Xi Jinping, in South Korea on Thursday morning in an effort to come to a trade…
‘We don’t always see eye to eye’: Xi and Trump on crunch trade talks – video
Donald Trump said the US and China had agreed ‘to a lot of things’ during trade talks in South Korea, and would be having further discussions. The US president described Xi Jinping as ‘distinguished and respected’, while the Chinese leader said: ‘We do not always see eye to eye with each other, and it is normal.’ Trump hailed the trade talks as ‘amazing’, saying the dispute over the supply of rare earths had been settled and that he would visit China in April The Guardian
EU carmakers ‘days away’ from factories halting work in chip war with China
Industry body says reserves of Nexperia semiconductors are dwindling after Beijing bans exports of key components Carmakers in the EU are “days away” from closing production lines, the industry has warned as a crisis over computer chip supplies from China escalates. The European Automobile Manufacturers’ Association (ACEA) issued an urgent warning on Wednesday saying its members, which include Volkswagen, Fiat, Peugeot and BMW, were now working on “reserve stocks but supplies are dwindling”. Continue reading… The Guardian
Aston Martin cuts investment plan by £300m as Trump tariffs bite
Carmaker’s third-quarter losses bigger than expected at £112m, with weak demand in China also a factor Business live – latest updates Aston Martin has slashed £300m from its investment plans after the British carmaker reported a bigger than expected loss in the third quarter because of Donald Trump’s tariffs and weak demand in China. The company said on Wednesday that losses before tax were £112m in the third quarter of 2025, a ninefold increase from £12m a year earlier. Continue reading… The Guardian