Trump’s latest tariff tantrum unlikely to end well for the US

US Trade Representative Jamieson Greer departs following a Senate Finance Committee hearing on July 22, in Washington. Photo: Getty Images via AFP

David Dodwell is CEO of the trade policy and international relations consultancy Strategic Access.

After devoting the first half of 2026 to an ineffectual, expensive and inconclusive military adventure in Iran, it seems US President Donald Trump is about to turn afresh to the wars he loves best – the tariff wars he still believes can make America great again.

He can’


Hong Kong exchange’s biggest reform in 8 years opens gates to more IPOs

HKEX will allow universal confidential listings and reduce market-capitalisation thresholds for IPOs by start-ups and international firms

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A man stands near the logo of Hong Kong Exchanges and Clearing, at its hall in Hong Kong on July 8. Photo: Reuters

Stock exchange operator Hong Kong Exchanges and Clearing (HKEX) will allow all listing applications to remain confidential and will reduce market-capitalisation requirements for listings by start-ups and international firms immediately, it announced on Friday.


Trump’s new tariffs, stock market intervention, mega IPOs

The US imposed tariffs as high as 12.5 per cent on 60 trading partners, including China, after President Donald Trump adopted a different method for pursuing his global trade war.The levies, which are related to forced labour, replaced a temporary 10 per cent global tariff that expired on Friday. The 10 per cent tax was imposed after previous Trump tariffs were struck down by the US Supreme Court.Trump’s new taxes, targeting imports from 80-plus countries, can probably withstand

Hong Kong insurers ride affluent demand to record sales as longevity and legacy needs grow

A sales agent promotes insurance policies to tourists in Tsim Sha Tsui, Hong Kong. Photo: Eugene Lee

Life insurance sales in Hong Kong rose 51 per cent in the first quarter to another record high, driven by affluent customers from mainland China and overseas buying policies for wealth transfer, protection and medical needs.

The industry wrote HK$141.1 billion (US$18 billion) in new life policies in the first quarter, compared with HK


South Korea returns looted Qing dynasty lions to China in cultural diplomacy win

South Korea has returned a pair of Qing dynasty (1644-1911) marble sculptures to China, a symbolic gesture as the two nations work to repair bilateral ties through cultural diplomacy.

The male and female lions, each standing 1.9 metres (6ft) tall and weighing 1.25 tonnes, were officially handed over by the Kansong Art Museum at a ceremony in Seoul on Thursday and were set to depart for China on Friday, according to the Chinese embassy.

Senior cultural

Senior cultural officials and diplomats from China and South Korea attended a ceremony in Seoul for the official handover of the marble lions as the two nations work to repair bilateral relations. Photo: qq.com

China adds 14 European entities to export control list, hitting back at EU sanctions

China has added 14 entities from the European Union to its export control list, including German defence giant Rheinmetall, the Ministry of Commerce announced on Friday.

Effective immediately, the order means that the export of dual-use items – products with civilian and military applications, including some rare earth elements – from China to the named entities is prohibited, as is the shipment of dual-use items of Chinese origin to the listed companies and institutions.

The move came after another round of sanctions from Brussels against Russia, announced


Japan’s overworked defence ministry plans first new bureau since 2007

This Week in Asia Politics

The ‘long overdue’ move is expected to boost the defence ministry’s capacity to work more closely with allies and ease operational strain

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Members of the Japanese Self-Defence Forces and US Marines during a joint live-fire drill as part of the annual Resolute Dragon exercises in Yufu, Oita prefecture, Japan, on June 28. Photo: Reuters

Japan ’s move to establish a new bureau to boost defence cooperation with allies is part of Tokyo’s wider policy to deepen deterrence against China, analysts say, adding that the internal reform was also long overdue for the government.

The new


Coke is hit? In India, Iran war can shortage sends Diet Coke prices fizzing

Diet Coke cans are displayed for sale in a shop in New Delhi on April 22. Photo: Reuters

First, the US-Israeli war on Iran sparked a Diet Coke shortage in India by squeezing supplies of aluminium cans, triggering an unusual wave of “Diet Coke parties” in one of the world’s largest consumer markets.

But now, the fizzy drink is getting pricier.

Across India, Coca-Cola has hiked prices of ‌Diet Coke – sold predominantly in aluminium cans in the country – by more than 10 per cent due
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South China Sea: Beijing and Manila trade blame on second day of Scarborough Shoal clashes

Chinese coastguard use water cannon during maritime stand-off, the third with the Philippines in the South China Sea since Monday

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The Philippines has accused China of “a series of water cannon attacks and dangerous manoeuvres” while the Chinese coastguard says its actions were

Clashes between Chinese and Philippine vessels near the fiercely contested Scarborough Shoal continued for the second day on Friday, marking the third such encounter between the rival South China Sea claimants this week.

The latest stand-off


Wall Street funds back China’s WuXi AppTec as weight-loss drug orders soar

WuXi AppTec’s Hong Kong-traded shares surged 37 per cent in the first half of the year. Photo: Shutterstock

US global asset managers, including BlackRock, have expanded stakes in mainland Chinese pharmaceutical contractor WuXi AppTec over the past two months, betting that a surge in weight-loss drug manufacturing orders will lift earnings in the first half of the year.
Global investors were increasingly interested in China’s contract development and manufacturing organisation, and biotechnology sector , said Linda Shu, head