China is back in the world spotlight with a series of major events unfolding in areas of trade, technology, governance, diplomacy, and sports. From U.S.–China tariff truce extension to a clampdown on lavish government spending by civil servants, to even a tragedy at the World Games in Chengdu, these stories are shaping world discourse.
1. U.S.–China Tariff Truce Extended, Calming Global Markets
The United States and China have agreed to extend their tariff truce for another 90 days, averting triple-digit duties from unsettling world trade flows. The deal, viewed as short-term relief for investors and companies, provides the negotiators with additional time to come up with a longer-term trade agreement.
Read more on Economic Times | Reuters coverage
2. Tech Showdown: Nvidia, AMD, and China in New Chip Revenue Deal
In a significant shift for tech industry relations, Nvidia and AMD will now pay 15% of their China chip sales revenue to the U.S. government under new export licensing deals. The policy aims to guard national security while opening some tech trade.
Meanwhile, China has ramped up its pushback against Nvidia, with state media branding its chips as "inferior" and "environmentally unfriendly," urging homegrown firms to prioritize domestic options more. This is a sign of a deeper shift towards technological self-sufficiency.
Read more on FT | Reuters analysis
3. Civil Servant Austerity Drive Hits China's Economy
China's anti-graft campaign has spilled over into a national austerity drive targeting civil servant perks. Prohibitions now rule out lavish banquets, expensive gifts, and foreign vacation trips for over 40 million government workers.
The move is already filtering through consumer markets, with spirits monopoly Kweichow Moutai and luxury dining business seeing falling revenues. Economists warn the steps, which are a hit with politicians, will curb economic growth.
4. Diplomatic Shock: Senior Chinese Envoy Detained
In a development that sent shockwaves throughout the diplomatic community, Liu Jianchao, one of China's top diplomats and noted for his efforts on U.S.–China relations, has been detained after returning to Beijing.
Liu, previously a potential foreign minister, is under investigation in what analysts call the most high-profile diplomatic probe since the 2023 Qin Gang case. Why he was detained is not clear, but it is an indication of Beijing's increasing grip on political loyalty.
Read more on WSJ
5. Tragedy at the Chengdu World Games
The global sports community is shocked at the sudden death of Mattia Debertolis, a 29-year-old Italian orienteering athlete, who died after he collapsed during the World Games in Chengdu, China.
Emergency responders were unable to resuscitate him, and his death cause is yet to be confirmed. Players and officials have sent condolence messages expressing the physical intensity of competitive sport.
More on Fox News
Conclusion
The China news of today encompasses global trade, technology competitions, economic policy changes, political intrigue, and human tragedy. With the nation juggling close American relations, domestic economic troubles, and worldwide public opinion, each headline adds to the tapestry of China in the 21st century.
For live news, visit reputable sources like Reuters, The Guardian, and Financial Times.