The BIS’s new “50% rule” is already having a significant impact on Chinese companies.
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Beijing decided to carry out new export controls on rare earths and launch its own version of the US foreign direct product rule.
Satellite internet might only ever be a complementary service to 4G/5G in China, but local operators have their eyes on overseas markets.
Trump and Xi will meet at APEC in October, but Trump’s China visit has been set for 2026, pointing to another tariff extension but no deal this year.
Washington and Beijing are racing to secure a Trump-Xi visit by the end of the year, but Trump has conditioned a visit on a trade deal being reached.
The July Politburo meeting readout did not prioritize supply-side policies as much as some had hoped, and it implied there will be less demand-side support.
Nvidia’s H20 chips are available for sale in China again; CEO Jensen Huang has been highly active in engaging with leaders in both the US and China this year.
The Trump administration has taken several steps in recent weeks to place Chinese companies under greater scrutiny.
Trump has threatened more tariff hikes by 1 August, but markets believe it is another case of TACO.
China continued to consolidate its position as a key market for chipmaking equipment in 2024, but the outlook for 2025 is less optimistic.