Reuters Asia Business

By David Lawder, David Ljunggren and Kylie Madry WASHINGTON (Reuters) – U.S. President Donald Trump’s new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with fresh duties on Chinese goods, sparking trade wars that could slam economic growth and raise prices for Americans still smarting from years of high inflation. …

Trump triggers trade war, price hikes with tariffs on Canada, China and Mexico Read More »

By Amy Lv and Lewis Jackson BEIJING (Reuters) – China will restructure its giant steel industry through output cuts, although it did not announce any target in its most recent intervention to address overcapacity in the sector, which is sparking world trade frictions. The world’s largest steelmaker and consumer will “promote restructuring of the steel …

China announces plans for steel output cuts to help restructure industry Read More »

SEOUL (Reuters) – South Korea will establish a $34 billion policy fund to provide financial support to companies involved in strategic technologies such as chips and autos amid intensifying global competition and protectionism, the government said on Wednesday. To help underpin the move, the government also announced new policies aimed at attracting talent working in …

South Korea plans $34 billion fund for strategic sectors like chips and autos Read More »

By Suzanne McGee and Carolina Mandl (Reuters) -Investors took comfort in U.S. President Donald Trump’s commitment to cutting taxes in a major address to Congress but voiced concerns about his continued focus on tariffs and a proposal to ditch a semiconductor chip manufacturing subsidy. The president’s remarks come at a pivotal point for markets, as …

Investors reassured on Trump’s tax remarks, worry about tariffs, chipmakers Read More »

By Sabrina Valle, Suzanne McGee and Michael Martina (Reuters) -An investor group backed by BlackRock agreed to buy a majority stake in the Hong Kong-based company that runs ports along either side of the Panama Canal, giving a U.S. firm control of key docks amid pressure from the White House to take them from China. …

BlackRock to buy Hong Kong firm’s Panama Canal port stake amid Trump pressure Read More »

By Laurie Chen and Greg Torode BEIJING (Reuters) – China will boost its defence spending by 7.2% this year, maintaining a steady growth rate as Beijing faces headwinds from three years of sluggish economic expansion amid mounting geopolitical challenges from Taiwan to Ukraine. The increase, announced on Wednesday in a government report due to be …

China maintains defence spending increase at 7.2% amid roiling geopolitical tensions Read More »