The Southeast Asian bloc ASEAN and China on Tuesday signed an upgrade to their free trade agreement, which is expected to include sections on digital, green economy and other new industries.

The risks of state-directed policy are also becoming more apparent, however. Wasteful industrial policy is a prime suspect in China’s low productivity growth. The gush of capital into companies and clusters in favoured sectors has created overcapacity, and many businesses are struggling to survive.

Their Iowa farm also grows corn and soybeans — crops that have been hit hard by the trade war with China — but cattle had been a bright spot so far in 2025. "This year, it is the one thing that is going to make any money for us,

China's Sany Heavy Industry rose marginally on its Hong Kong trading debut Tuesday after raising HKD$12.36 billion ($1.59 billion) in one of the city's largest listings this year.

Lieutenant General Sun Li-fang details Taiwan's defense plans against Chinese gray-zone operations and potential naval blockade threats from the PLA.

Treasury Secretary Scott Bessent said 100% tariffs on China are "effectively off the table" after a "very good two-day meeting" between the U.S. and China.

President Trump will meet with Chinese President Xi on Thursday in an attempt to stop the trade war from escalating. Also, Trump terminated trade talks with Canada again after a TV ad played an audio of former President Ronald Reagan criticizing tariffs.

The European Union and China will hold talks this week to address trade disputes as Beijing’s restrictions on exports of key minerals and chips risk disrupting Europe’s auto industry.