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US-ally trade wars

US-ally trade wars
The latest news, analysis and opinion on US-ally trade wars. In-depth analysis, industry insights and expert opinion.
US President Donald Trump holds a rally to mark his 100th day in office, at Macomb Community College in Warren, Michigan, on April 29. Photo: Reuters
US-China relations

Opinion | Thanks to Trump, China has the cards it needs to win the trade war

Trump’s actions have left nations feeling betrayed while accelerating China’s self-sufficiency. These, plus Beijing’s rare earth dominance, could spell victory.

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China's economic recovery

‘It’s devastating’: Chinese graduates in UK face bleak outlook amid job crunch

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Thailand

Asian Angle | Trump’s tariffs: can Thailand escape the US trade trap after 90 days?

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Asean

Asian Angle | The end of ‘Chimerica’ and what that means for Southeast Asia

The breakdown of US-China economic symbiosis leaves Southeast Asian nations bracing for unpredictable shocks.

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China has long prepared for an expanded trade conflict with the US. Photo: Shutterstock
Donald Trump

Sheinbaum says she rejected Trump offer to send US troops to Mexico

The Mexican president says she told her US counterpart that her country’s sovereignty is inviolable and is not for sale.

Donald Trump

Buffett warns against Trump tariffs, says he wants to retire at end of year

The Berkshire Hathaway chair stunned shareholders with news that he hopes to hand over the reins to Greg Abel within months.

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United States

Macroscope | Trump’s tariffs are waking Asia up from the dream of export-led growth

Asian economies responded to Western exhortations to pursue export-led growth. The resulting ‘economic miracle’ now looks like a mistake.

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A protester wearing a Trump mask at a demonstration against the US tariffs policy and to demand South Korea’s Acting President Han Duck-soo and Finance Minister Choi Sang-mok resign, in Seoul, South Korea, on April 22. Photo: AP
Australia

‘Thank you’: Australia’s left-leaning PM Albanese triumphs in election

‘Thank you for the chance to continue to serve the best nation on Earth,’ the Labor leader said, after a contest swayed by economic upheaval and Donald Trump.

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United States

Outside In | Uncertainty unleashed by Trump 2.0 will exact a high price

Companies and countries alike are seeing hedging costs hit the roof amid a loss of trust and certainty in the US, the dollar and Treasuries.

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Canada

Canada’s PM Carney to visit Trump at White House on Tuesday

Carney has emphasised Canada’s oldest allies, Britain and France, since becoming PM, and that its close friendship with the US has ended.

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Canada’s Prime Minister Mark Carney arrives to his first press conference since forming government in Ottawa, on Friday. Photo: Reuters
United States

Opinion | Trump’s unpredictability and a fractured US are a dangerous mix

As Trump erratically escalates trade tensions with China and the Global South, his domestic behaviour only adds to geopolitical uncertainty.

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Illustration: Craig Stephens
Indonesia

Trump’s tariffs drive Chinese solar firms to Indonesia after Southeast Asia levies

Indonesia is now appealing to companies seeking to relocate operations due to high US tariffs on Chinese solar firms in Southeast Asia.

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Apple

Apple sales in China dip as US tariffs add to headache

As iPhone sales in China continue to fall, Apple also faces US$900 million tariff costs this quarter.

Japan

Toyota ‘doesn’t break down’: why there’s hardly any love for US cars in Japan

Many Japanese admire vintage US cars, but when it comes to new vehicles, they hold more trust in domestic brands.

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US car dealer Yosuke Fukuda drives a 1954 Buick Roadmaster in Fukaya, Japan’s Saitama prefecture. Photo: AFP
Malaysia

Asean firms in limbo as US tariff window ticks and China ‘dumping’ fears grow

Companies brace for drop in demand and profits as they and regional governments struggle to find a way to tackle the punishing duties.

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Shipping containers stacked at Malaysia’s Port Klang on April 18. Photo: AP
China-EU relations

Deal or no deal? EU engages US, China on high-wire bargaining act

Europe must navigate between the two powers, knowing that cutting an economic deal with one could make it impossible to do so with the other.

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Video gaming

Xbox joins PlayStation in raising console prices amid US tariffs

Hefty levies imposed by Trump on manufacturing hubs such as Japan, China and Vietnam have led to a surge in console prices.

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US-China trade war

My Take | Why China’s ‘Never Kneel Down’ video fails to change US trade war narrative

China’s ‘Never Kneel Down’ video employs nationalistic rhetoric to resonate with a Chinese audience, but is unlikely to influence the global narrative on tariffs.

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China released a viral video to emphasise its stance in the US tariff war, but it lacks fresh insights. Photo: Shutterstock
Japan

Japan says its US$1 trillion in US Treasuries could be leverage in trade talks

A huge US Treasury sell-off in April was reportedly one factor that led Trump to announce a 90-day pause on his ‘reciprocal’ tariff plan.

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United States

Opinion | What Trump should do instead to make US manufacturing great again

Instead of competing with China in shipping, rare earths or EVs, the president should target leading-edge industries like aerospace and quantum computing.

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Banking & finance

Macroscope | Is the ‘Trump shock’ the end of dollar hegemony?

A bear market for the US dollar is overdue but that doesn’t mean the dominant reserve currency should – or could – be replaced any time soon.

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A man walks past a currency exchange office in Buenos Aires, Argentina, on April 1. While many expect the US dollar to keep depreciating, the currency still accounts for nearly 60 per cent of foreign reserve holdings and almost 90 per cent of foreign exchange transactions. Photo: EPA-EFE
US-China trade war

A month into Trump’s trade war, the world is divided – how are nations reacting?

China retaliated with strong measures against Washington’s record-high tariffs, but other countries have preferred a softer approach.

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US President Donald Trump unveils sweeping new “Liberation Day” tariffs in the White House on April 2, 2025. Photo: TNS
Banking & finance

Opinion | As markets recover from Trump tariff shock, how long will new normal last?

While calm may have been restored for now, the fact is that Trump’s flip-flops have caused fundamental damage to the global economy.

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Family offices

Hong Kong family offices should unload US assets, look to Japan, UAE, advisory says

Now is a ‘critical moment’ to ‘get rid of the US’, especially equities and Treasuries, to ‘maintain lower risk-return ratios’, CEO says.

US-China trade war

Letters | Could Trump even convince American workers to make iPhones?

Readers discuss why bringing manufacturing jobs back to the US is easier said than done, and the West’s changing attitude towards China.

Car workers listen as US President Donald Trump marks his 100th day in office at Macomb Community College in Warren, Michigan on April 29. Photo: AFP
Japan

Can Japan reduce US reliance amid Trump policies, and embrace Global South?

Japanese business leaders are urging the country to diversify trade beyond the US to mitigate risks associated with over-reliance on one economy.

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Japanese Prime Minister Shigeru Ishiba (left) shakes hands with US President Donald Trump at the White House on February 7. Photo: Kyodo
Donald Trump

No China talks under way, Trump trade chief says, but other deals are close

Trump administration is focused on ‘targeted’ deals, US trade representative says.

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Japan

77% of Japanese doubt US support amid Trump’s ‘erratic’ first 100 days: poll

Japanese scepticism is growing as more than three-quarters of citizens doubt US military support under Trump, despite security assurances.

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