Weekend Buzz 19 April 2025
Top News
Fee change for China-built ships
The Trump administration revised its February plan of fees to be levied on Chinese-built ships stopping at US ports. The new plan, released on Thursday, imposes fees based on cargo weight or number of containers on board, instead of how many US ports they call at. The original plan was to charge US$3.5 million each time a ship docked at a US port. Chinese foreign ministry spokesperson Lin Jian said any fee "harms both parties," urging the US to "cease such inappropriate actions without delay."
Chinese students hit by visa revocation
Attorneys representing 133 foreign students whose visas have been revoked by the Trump Administration asked a US federal court on Thursday to temporarily block the action. The Associated Press reports around 1,000 international students in US colleges, universities and university systems have had their visas revoked or legal status terminated since late March.
China Central Television reported that at least four Chinese students whose visas have been revoked are suing to have their status restored.
Chinese students are the second-largest foreign student body in US, after India. In March, US Congressman Riley Moore, a West Virginia Republican, introduced legislation to ban all Chinese nationals from studying in the US.
War in Ukraine
US President Donald Trump said the US will walk away from its role as a mediator in talks to end the three-year war in Ukraine if negotiations with Russia and Ukraine don't produce a peace deal very soon.
"If, for some reason, one of the two parties makes it very difficult, we're just going to say, 'You're foolish, you're fools, you're horrible people' and just take a pass," Trump said.
He boasted during last year's presidential campaign that he would stop the fighting within 24 hours of taking office.
Top Business
China promotes smart manufacturing
China outlined an accelerated push to integrate artificial intelligence (AI) deeper into the nation's industries, including the automative and textile sectors. The Ministry of Industry and Information Technology said the strategy includes policy enhancements, infrastructure upgrades and advancements in 5G-enabled Internet industries. Smarter manufacturing aims to strengthen China's global competitiveness and foster economic growth.
UK-China business ties
Chancellor of the Exchequer Rachel Reeves in an interview with the Telegraph indicated the UK has no plans to join the US in trying to isolate China in business relations. She pointed to her January visit to Beijing, and said Britain's relationship with the world's second-largest economy would be frank, open and pragmatic in "finding opportunities" for trade and investment. She added that she would be happy to ride in Chinese-made electric vehicles and has backed fast fashion brand Shein floating on the London stock market.
Brain implant breakthrough
Hainan University has unveiled domestically developed core technologies and products related to implant devices that connect to the brain's electrical activity. The milestone will help China reduce reliance on foreign imports and signals technological autonomy in the so-called "brain-computer interface" sector. The new systems, including neural signal acquisition and modulation, position China as a global leader in brain science research and medical applications. The university, in the southern province of Hainan, has been engaged in research and development for nearly 20 years.
Economy
Applying foreign investment
Actual utilization of direct foreign investment in China fell 10.8 percent in the first quarter to 269.2 billion yuan (US$37.35 billion). However, it picked up in March with a 13.2 percent year-on-year surge. In the quarter, investment from Southeast Asian countries gained 56 percent, while EU investment rose about 12 percent.
Stamp duty revenue surges
Revenue from China's stamp duty on stock transactions surged 61 percent in the first quarter from a year earlier to 41.1 billion yuan (US$5.63 billion). The gain reflects increased trading in equities.
Pressure on the Fed
The White House is studying ways to fire Federal Reserve Chairman Jerome Powell, according to Kevin Hassett, chair of the White House National Economic Council. Trump's long-running animosity toward Powell erupted this week after the Fed boss openly criticized his tariffs. "If we had a Fed chairman that understood what he was doing, interest rates would be coming down. He should bring them down," Trump said on Friday. The attacks on Powell have rattled investors in a nation where the central bank has been structured to be independent of politics.
Deep Dive
Higgledy-piggledy US tariff policies: Is there a method to the madness?
The global audience watches the US theater of the absurd, but none is applauding. Many companies and countries like China are writing alternative scripts.
(Click the headline to read full article.)
'Make America Outsource Again' may be the new mantra of chip production
Nvidia CEO Jensen Huang flew to Beijing this week, one day after the chip manufacturer's stock price dropped nearly seven percent. US tariffs on electronics imports, now temporarily suspended, will force major tech firms to diversify manufacturing sites, analysts predict.
(Click the headline to read full article.)
Corporate
Tea chain debuts with gain
Shares in Chinese milk-tea chain Chagee rose 15 percent at their debut on New York's Nasdaq exchange on Thursday. The company's initial public offering sold almost 15 million shares, priced at US$28 each. The company, founded in Yunnan Province in 2017, operated 4,000 venues on the mainland and in Southeast Asia as of 2024. It has announced it will open its first branch in the US.
Hermès to raise US prices
French luxury brand Hermès is raising US prices across product lines beginning May 1 in response to a 10 percent tariff on imports. The increase comes on top of the brand's usual 6-7 percent annual price hike. Chief Financial Officer Eric du Halgouët said prices will fully reflect the new tariffs.
