U.S. Trade Representative Jamieson Greer announced Friday that details of trade negotiations with China will be released Monday. The talks have resulted in agreements on exempting certain goods from tariffs, following a meeting between President Donald Trump and Chinese President Xi Jinping at the White House on Thursday.
Eli Lilly announced a partnership with China-based InnoCare Pharma worth up to $3.35 billion, marking the pharmaceutical giant's fourth China-focused alliance since January 2025. The deal focuses on oncology and autoimmune drug development, continuing Lilly's aggressive dealmaking strategy in the region.
Senators Bernie Moreno and Elissa Slotkin agreed to postpone until next week their plan to use expedited Senate procedures to pass a permanent legislative ban on Chinese cars in the United States. The delay comes as Chinese President Xi Jinping visits the US for meetings with President Trump.
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet Sunday to negotiate potential agreements on AI, tariffs, and critical minerals ahead of a high-stakes Washington summit.
IQE CEO Jutta Meier identified access to indium phosphide substrates as an emerging key risk for the semiconductor industry, as Chinese export controls create uncertainty over supply of materials critical for advanced chips.
Treasury Secretary Scott Bessent said 19 of 20 G20 finance ministers agreed to address global economic imbalances caused by cheap exports, but China's objection prevented a joint statement at the September 2026 meeting in Asheville, North Carolina.
Treasury Secretary Scott Bessent said China prevented the G20 from issuing a joint statement after finance ministers' meeting, citing disagreement over China's massive trade surplus and 'cheap exports' flooding global markets.
The U.S. is set to impose an additional 7.5% tariff on Chinese goods over allegations of industrial overcapacity before a planned summit between Xi Jinping and Donald Trump next month, according to sources familiar with the matter.
China firmly opposed new US tariffs of up to 100 percent on imports of unmanned drones and their components imposed by President Donald Trump last week, calling them discriminatory and demanding their immediate withdrawal. A Chinese commerce ministry spokesperson condemned the Section 232 tariffs during a regular press conference.
The Trump White House released a report alleging that China and more than 40 countries are routing exports through third nations to avoid U.S. tariffs, resulting in estimated tax revenue losses of $19 billion to $26 billion per year. The administration described the practice as a 'transshipment scam.'
China's Commerce Ministry announced retaliatory measures against seven US entities, imposed stricter export controls on drones and related technology bound for the US, and restricted US agencies' role in Chinese factory inspections. The actions come in response to recent US moves targeting Chinese companies and ahead of a scheduled visit by President Xi Jinping to meet President Trump.
General Motors and SAIC Motor have renewed their 50-50 Chinese joint venture for another 20 years through 2047, following a major restructuring that will discontinue domestic Chevrolet sales in China while focusing on Buick and Cadillac brands and using China as an export hub.
China announced it is banning exports of dual-use items to 14 European Union entities, including German defense company Rheinmetall, effective immediately. The move is in direct retaliation for the EU's latest round of sanctions against Russia that penalized 14 Chinese enterprises.
China's Commerce Ministry said China is soliciting views from domestic companies, business associations, local governments, and U.S. business groups, while the United States is separately seeking public comments on the Board of Trade and the reciprocal tariff arrangements. The proposed framework covers about $30 billion worth of goods on each side, while the two countries continue to work out the board's structure, functions, and operating model.
The European Union and China have agreed to enter three months of negotiations aimed at resolving their massive trade imbalance and avoiding escalating trade tensions. The talks, formalized in their first joint statement in seven years, will focus on the bloc's €360bn annual import/export deficit with China, with an October deadline set for tangible results.
China has significantly reduced shipments of rare earth minerals to Japan, with May exports of materials used in powerful magnets dropping to negligible levels. The supply squeeze is pressuring Japanese companies and Prime Minister Sanae Takaichi's government to seek diplomatic resolution with Beijing over tensions related to Taiwan.
European leaders and G7 nations are responding to concerns about a flood of cheap Chinese exports threatening key industries, echoing fears of the original 'China shock' that disrupted Western manufacturing. The issue has become a central topic at the G7 summit as countries weigh policy responses to growing trade imbalances.
Chinese Vice Premier Zhang Guoqing will participate in a rare video conference hosted by French President Emmanuel Macron with G7 countries on Thursday to discuss global trade imbalances and low-priced Chinese exports, as Germany signals potential tougher trade measures.
French President Emmanuel Macron convened a video conference between G7 countries and China to address global economic imbalances, as the G7 summit pivots away from a single overarching statement toward separate policy declarations on topics including critical minerals and cancer research.
Asia-Pacific trade envoys gathered in Suzhou, China on May 22, 2026 for an APEC trade ministers' meeting focused on multilateral cooperation, trade imbalances, and supply chain resilience. China's International Trade Representative Li Chenggang chaired the opening as the commerce minister was absent due to urgent official business.
China's Ministry of Commerce issued an injunction blocking US sanctions against five Chinese refineries, including Hengli Petrochemical, that were accused of purchasing billions in Iranian oil. The move marks a significant escalation in the US-China dispute over Iran sanctions enforcement.
China unveiled new regulations aimed at countering 'unjustified' extraterritorial use of foreign laws, threatening EU firms with reciprocal measures if the bloc targets Chinese companies under proposed cybersecurity regulations. The move is seen as reinforcing China's 'legal shield' against external pressure amid the Iran war and Panama port dispute.
