FirstFT: US to impose further tariffs on China and push forward with Canada and Mexico levies

Good morning and glad Friday. In as we speak’s publication:

• US to lift tariffs on China

• Bangladesh pupil protesters launch a brand new celebration

• How DeepSeek ‘changed everything’ for Chinese language AI

Donald Trump mentioned yesterday he would impose an extra 10 per cent tariff on imports from China and press forward with levies on Mexico and Canada from subsequent week, elevating the spectre of a world commerce conflict.

The president had halted his proposed tariffs on Mexico and Canada earlier this month, simply hours earlier than they have been as a consequence of start, giving the US’s two greatest buying and selling companions a month-long reprieve.

However in a publish on Fact Social yesterday, Trump wrote that the proposed tariffs would “go into effect, as scheduled” on March 4. The president added that he additionally deliberate to hit China with an extra 10 per cent levy on the identical day, on prime of 10 per cent tariffs that he imposed this month.

The Chinese language embassy in Washington criticised the brand new tariffs, saying there have been “no winners” in a commerce conflict.

Canadian Prime Minister Justin Trudeau mentioned his nation would reply to any “unjustified tariffs” with a “strong, immediate and certain answer”.

Trump’s newest push for tariffs is prone to set off a diplomatic rush to attempt to cease the measures over the subsequent few days. Learn the total story.

• Trump-Starmer assembly: The US president mentioned his administration is engaged on a commerce cope with the UK, suggesting that Britain may escape tariffs if such an settlement have been struck.

• What nearer US-Russia ties imply for China: Trump’s rapprochement with Moscow over the conflict in Ukraine serves Beijing’s goal of a multipolar world order, but in addition raises risks for Xi Jinping, analysts mentioned.

Right here’s what else we’re holding tabs on as we speak:

• Financial information: India experiences its third-quarter GDP estimate whereas Japan publishes industrial manufacturing figures for January.

• India-Europe relations: EU chief Ursula von der Leyen will meet Prime Minister Narendra Modi in New Delhi.

• Ukraine: Ukraine’s President Volodymyr Zelenskyy is anticipated to satisfy Trump in Washington to signal a deal on essential minerals.

How properly did you retain up with the information this week? Take our quiz.

5 extra prime tales

1. Scholar protesters in Bangladesh who led a revolt that toppled former chief Sheikh Hasina final 12 months are set to type a brand new political celebration, difficult the nation’s entrenched political duopoly. The brand new “National Citizen party” plans to launch as we speak and shall be led by Nahid Islam, a outstanding pupil chief.

2. The founding household of 7-Eleven’s mother or father group has deserted a $58bn buyout try, elevating the probability that Canada’s Alimentation Couche-Tard will succeed with its unsolicited bid for the Japanese comfort retailer firm. Shares of Seven & i plunged after it mentioned a gaggle led by the Ito household was unable to safe financing.

3. Microsoft has warned Donald Trump’s administration it dangers making a “strategic mis-step” if it pushes forward with export controls on synthetic intelligence chips. Brad Smith, Microsoft’s president, warned they might push allies to make use of Chinese language expertise as a substitute whereas adversely impacting allies equivalent to Israel, India and Singapore.

4. China’s securities regulator has clamped down on small firms itemizing on New York inventory exchanges, viewing them as vulnerable to market manipulation. Analysts mentioned the crackdown was Beijing’s newest effort to scale back monetary ties with the US.

5. Indonesia is ready to carry its ban on iPhone 16 gross sales after placing a cope with Apple to convey funding of about $320mn to south-east Asia’s largest economic system. The ultimate determine is significantly lower than Apple’s $1bn supply final month to fabricate equipment within the nation, which was rejected by Jakarta.

Information in-depth

DeepSeek’s advances have sparked a nationwide push in China to deploy its expertise all over the place from hospitals to native governments, with even essentially the most historically conservative establishments throwing their weight behind the brand new nationwide AI champion. Right this moment’s deep dive seems at how the start-up “changed everything” for Chinese language AI.

We’re additionally studying . . . 

• Japan’s child boomers: The sensible impression of mass ageing has abruptly develop into extra dramatic and potent, writes Leo Lewis.

• The top of hanging out?: Current traits have mixed to worsen public areas. Fortunately, we will do higher, writes Simon Kuper.

• US housing: Right this moment’s Large Learn explores how builders are tackling the twin challenges of extreme climate and a housing scarcity.

Chart of the day

The variety of infants born in Japan final 12 months fell to the bottom degree since data started 125 years in the past because the nation’s demographic disaster deepens and authorities efforts to reverse the decline proceed to fail.

Take a break from the information . . . 

Get on board Tanzania’s 33-hour sluggish practice with Sophy Roberts to expertise one of many final previous world trains on its 800-mile journey west throughout the nation earlier than it’s eclipsed by its electrified high-speed substitute.