China’s state media have commended certain U.S. firms for their “strong collaboration” – a narrative that arises amidst concerns of a trade war and echoes the tone adopted by Chinese newspapers during Donald Trump’s first presidency.
Trump, who assumes office on 20 January, announced on Monday his intention to impose a 10% tariff on Chinese goods to press Beijing into doing more to curb the flow of Chinese-manufactured chemicals fueling the opioid crisis in the United States. He has also previously threatened tariffs exceeding 60% on Chinese goods during his campaign.
During Trump’s first term, corporate executives and foreign investors scrutinised Chinese state media for indications of which U.S. firms might receive favour or face penalties as trade tensions intensified.
On Wednesday evening, the state-owned Global Times commended Apple (AAPL.O), Tesla (TSLA.O), Starbucks (SBUX.O), and HP (HPE.N) for their strong collaboration with Chinese partners. “U.S. politicians need to pay attention to and respect the evident willingness of American businesses for economic and trade cooperation by tailoring suitable policy environments for enterprises,” it stated.
The China Daily likewise highlighted that Morgan Stanley (MS.N) obtained regulatory approval in March to expand its operations in China, presenting this as evidence of foreign financial firms’ eagerness to invest in the country. During Trump’s initial term, the U.S.-Sino trade war saw China threaten to block U.S. companies from importing, exporting, and investing in the country via the introduction of an “Unreliable Entity List.”
At the time, Global Times reported that the list could target U.S. firms such as Apple, Cisco Systems (CSCO.O), and Qualcomm (QCOM.O). However, Beijing ultimately refrained from implementing this threat, with the list so far including only U.S. companies involved in arms sales to Taiwan.
“Neither side was good about communicating policy directly, so businesses were left to interpret the signals from traditional and social media,” remarked a Beijing-based American executive. The executive, who was also in China during Trump’s first term, is not authorised to speak publicly and declined to be named.
Bo Zhengyuan, a Shanghai-based partner at consultancy Plenum, anticipated that Beijing would be unlikely to quickly deploy measures such as the Unreliable Entity List following any formal tariff announcement under Trump’s administration, given the fragile state of China’s economy. However, he noted that Beijing could retaliate later if U.S. policymakers were perceived as undermining China’s commercial interests.
“There was collateral damage last time, and there will be collateral damage this time. But I believe the Chinese government, given the current foreign investment climate, is aware that such tactics could provoke backlash,” he added.
During Trump’s first term, Chinese authorities rarely issued direct statements about the trade war. So far this week, officials in mainland China have avoided commenting directly on the proposed 10% tariff, although a Chinese embassy representative in Washington remarked that no one stands to gain from a trade war.
Only 47% of U.S. companies expressed optimism about their five-year business prospects in China, according to a September survey conducted by the American Chamber of Commerce in Shanghai.
Chinese vessels gather near Philippines' Thitu Island in the South China Sea, raising regional tensions. Manila monitors the "illegal presence," while analysts suggest Beijing may be testing reactions amid domestic Philippine political strife.
Pope Francis announced that starting next week, his weekly teachings at the Vatican will be translated into Mandarin, adding to the languages already used. This move coincides with the start of Advent and reflects efforts to improve Vatican-China relations.
The European Union has taken its trade dispute with China to the World Trade Organization (WTO), escalating tensions over tariffs on electric vehicles (EVs). The EU’s complaint challenges Beijing’s duties on European EV imports, which the bloc claims are unjustified and violate WTO rules.
China’s Defence Minister Admiral Dong Jun is under investigation for alleged corruption, the third consecutive PLA minister to face such claims. The probe, part of Xi Jinping's anti-graft campaign, underscores tensions within the military and strained US-China relations.
New Delhi, the capital city of India, continues to be shrouded in toxic smog. The air quality index (AQI) in the capital has surpassed already severe levels, sparking widespread concern among residents.
Chinese vessels gather near Philippines' Thitu Island in the South China Sea, raising regional tensions. Manila monitors the "illegal presence," while analysts suggest Beijing may be testing reactions amid domestic Philippine political strife.
Tensions escalated in Belgrade on Wednesday, November 27, as clashes broke out between pro- and anti-government protesters. The unrest follows widespread public anger after the tragic collapse of a canopy at a railway station earlier this month, which resulted in the deaths of 15 people.
Negotiations at COP29 in Baku face a critical impasse as sharp divisions over climate finance and fossil fuel commitments threaten progress.
"Come up with the video in its full form," demands the COP29 CEO, Elnur Soltanov, in an exclusive interview with AnewZ. The chief executive has broken his silence on the claims he was using his position to organise potential fossil fuel deals.
The United Nations COP29 climate change conference in Baku seeks $1 trillion annually to help vulnerable nations tackle climate change, as political tensions and Argentina’s withdrawal overshadow talks.
New Delhi, the capital city of India, continues to be shrouded in toxic smog. The air quality index (AQI) in the capital has surpassed already severe levels, sparking widespread concern among residents.
Chinese vessels gather near Philippines' Thitu Island in the South China Sea, raising regional tensions. Manila monitors the "illegal presence," while analysts suggest Beijing may be testing reactions amid domestic Philippine political strife.
Tensions escalated in Belgrade on Wednesday, November 27, as clashes broke out between pro- and anti-government protesters. The unrest follows widespread public anger after the tragic collapse of a canopy at a railway station earlier this month, which resulted in the deaths of 15 people.
New Delhi, the capital city of India, continues to be shrouded in toxic smog. The air quality index (AQI) in the capital has surpassed already severe levels, sparking widespread concern among residents.
Chinese vessels gather near Philippines' Thitu Island in the South China Sea, raising regional tensions. Manila monitors the "illegal presence," while analysts suggest Beijing may be testing reactions amid domestic Philippine political strife.
Tensions escalated in Belgrade on Wednesday, November 27, as clashes broke out between pro- and anti-government protesters. The unrest follows widespread public anger after the tragic collapse of a canopy at a railway station earlier this month, which resulted in the deaths of 15 people.
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