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Chinese Auto Giants Dongfeng and Changan Are in Talks to Merge
The state-owned automakers, longtime joint venture partners of Ford and Nissan, might combine operations as Beijing consolidates its sprawling car sector.Two of China’s biggest state-owned automakers are in advanced discussions to merge, in a deal that would create a formidable manufacturer of cars and military vehicles but could also create problems for their American and Japanese partners.Dongfeng Motor and Changan Automobile have conducted detailed talks on how to combine their operations and told their foreign partners of their intentions, said two people with detailed knowledge of the discussions who were not authorized to comment.Although little known outside China, each company produces slightly more cars for its own brands and through joint ventures than global automakers like Mercedes-Benz or BMW. Dongfeng and Changan together make about 5 million cars a year — more than Ford Motor and almost as many as General Motors or Stellantis, the giant that owns Fiat, Chrysler and Peugeot.A merger of Dongfeng and Changan would represent a significant consolidation of China’s auto market, the world’s largest, and another sign of the country’s rapid embrace of electric vehicles. Both companies have considerably more factory capacity for producing gasoline-powered cars than they need.Beijing’s hope is that a combined company will be able to close excess factories for gasoline cars and become more successful in electric cars.China’s national government owns controlling stakes in Dongfeng and Changan. Dongfeng is a leading supplier of military vehicles to the People’s Liberation Army and Changan is a subsidiary of a Chinese military contractor, which could draw unwanted attention from the Trump administration to a new, larger military supplier and its joint venture partners.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More
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Xiaomi Driverless Technology in Focus After Fatal Electric Car Crash
A popular electric vehicle made by the Chinese consumer electronics giant Xiaomi crashed into a concrete guardrail while deploying its autonomous driving feature. Three people died.China’s Xiaomi, a consumer electronics giant turned automaker, said it is cooperating with a police investigation into a fatal crash involving one of its electric vehicles while the driver was using the car’s autonomous driving features.A Xiaomi SU7 sedan drove into a concrete guardrail on an expressway in eastern China late on Saturday night at around 60 miles per hour, according to a post on Xiaomi’s official social media account. On Tuesday, local media published reports about the collision and ensuing fire, which killed three college students, along with pictures of the charred remains of the vehicle.Xiaomi said the driver deployed the company’s Navigate On Autopilot, an assisted driving feature, while going around 70 miles per hour on the expressway. The car was traveling at that speed when it reached a roadblock, because a portion of the road was under repair with traffic diverted into a different lane.Seconds before the collision, the car warned that there were obstacles ahead and started to decelerate but it was too late. The company said it called the police and emergency services.The fatal crash took place one year after the launch of Xiaomi’s SU7 electric vehicle, marking a major shift for a company that had gained a cultlike following for its smartphones and home appliances. And the SU7, which bears a resemblance to the Porsche Taycan at a fraction of the price, has been a breakthrough success in China’s cutthroat electric vehicle market. It sold more than 200,000 units in its first year.The ability of a company with no automotive experience to build and sell a car capable of gaining market share so quickly is a testament to the advantages of China’s supply chain of batteries and key components for electric vehicles. It is also a warning to the automotive industry that the competition is no longer limited to traditional car brands, but to almost any company adept at manufacturing electronic products efficiently and inexpensively.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More
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Trump prepares to unveil reciprocal tariffs as markets brace amid trade war fears
As Donald Trump prepared to unveil a swathe of reciprocal tariffs, global markets braced and some Republican senators voiced their opposition to a strategy that critics warn risks a global trade war, provoking retaliation by major trading partners such as China, Canada and the European Union.The US president said on Monday he would be “very kind” to trading partners when he unveils further tariffs this week, potentially as early as Tuesday night.The Republican billionaire insists that reciprocal action is needed because the world’s biggest economy has been “ripped off by every country in the world”, promising “Liberation Day” for the US.He could also unveil more sector-specific levies.Asked for details, he told reporters on Monday: “You’re going to see in two days, which is maybe tomorrow night or probably Wednesday.”But he added: “We’re going to be very nice, relatively speaking, we’re going to be very kind.”Some Republican senators spoke out against Trump’s tariffs on Canada and are considering signing on their support for a resolution blocking them, CNN reported. Senator Susan Collins warned that tariffs on Canada would be particularly harmful to Maine and that she intended to vote for a resolution aimed at blocking tariffs against Canadian goods.Republican Senator Thom Tillis also said he was considering backing the resolution, adding: “We need to fight battles with our foes first and then try to figure out any inequalities with our friends second.”Already, China, South Korea and Japan agreed on Sunday to strengthen free trade between themselves, ahead of Trump’s expected tariff announcement.But Trump said on Monday he was not worried that his action would push allies toward Beijing, adding that a deal on TikTok could also be tied to China tariffs.White House press secretary Karoline Leavitt told reporters that the goal on Wednesday would be to announce “country-based tariffs”, although Trump remained committed to imposing separate sector-specific charges.The uncertainty has jolted markets, with key European and Asian indexes closing lower, although the Dow and broad-based S&P 500 eked out gains.Market nervousness intensified after Trump said on Sunday his tariffs would include “all countries”.The Wall Street Journal reported on Sunday that advisers have considered imposing global tariffs of up to 20%, to hit almost all US trading partners. Trump has remained vague, saying his tariffs would be “far more generous” than ones already levied against US products.Trump’s fixation on tariffs is fanning US recession fears. Goldman Sachs analysts raised their 12-month recession probability from 20% to 35%.This reflects a “lower growth forecast, falling confidence and statements from White House officials indicating willingness to tolerate economic pain”. Goldman Sachs also lifted its forecast for underlying inflation at the end of 2025.China and Canada have imposed counter-tariffs on US goods, while the EU unveiled its own measures to start mid-April. Other countermeasures could come after Wednesday.For now, the IMF chief, Kristalina Georgieva, said at a Reuters event on Monday that US tariffs were causing anxiety, although their global economic impact should not be dramatic.Ryan Sweet of Oxford Economics said to “expect the unexpected”, anticipating that Trump would “take aim at some of the largest offenders”.Besides reciprocal country tariffs, Trump could unveil additional sector-specific levies on the likes of pharmaceuticals and semiconductors. He earlier announced car tariffs to take effect on Thursday.Economists have expected the upcoming salvo could target the 15% of partners that have persistent trade imbalances with the US, a group that the US treasury secretary, Scott Bessent, has dubbed a “Dirty 15”.The US has some of its biggest goods deficits with China, the EU, Mexico, Vietnam, Taiwan, Japan, South Korea, Canada and India.US trade partners are rushing to minimise their exposure, with reports suggesting India may lower some duties.The European Central Bank president, Christine Lagarde, said on Monday that Europe should move towards economic independence, telling France Inter radio that Europe faces an “existential moment”.Separately, the British prime minister, Keir Starmer, spoke with Trump on “productive negotiations” towards a UK-US trade deal, while the German chancellor, Olaf Scholz, said the EU would respond firmly to Trump but was open to compromise.It was “entirely possible” for fresh tariffs to be swiftly reduced or put on hold, said Greta Peisch, a partner at law firm Wiley Rein.In February, Washington paused steep levies on Mexican and Canadian imports for a month as the North American neighbours pursued negotiations.With Agence France-Presse More
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Stocks Sink as Trump’s Tariff Threats Weigh on Confidence
Stocks in Japan tumbled nearly 4 percent as investors braced for a week of market turmoil caused by an expected announcement of more tariffs.Stocks in Asia tumbled Monday as investors braced for a week of market tumult caused by an expected announcement of more tariffs by President Trump on America’s biggest trading partners.Japan’s Nikkei 225 index fell nearly 4 percent in early trading. Stocks in South Korea and Taiwan were down more than 2 percent.Stocks in Hong Kong and mainland China were mostly unchanged, bolstered by a report signaling that China’s export-led industrial sector continues to expand despite Mr. Trump’s initial tariffs.Futures on the S&P 500, which allow investors to trade the benchmark index before exchanges reopen in New York in the morning, slumped 0.5 percent on Sunday evening. On Friday, the S&P 500 dropped 2 percent on concerns about inflation and weak consumer sentiment.Since taking office a little over two months ago, Mr. Trump has kept investors and companies guessing with his haphazard rollout of what he calls an “America First” trade policy.In some cases, Mr. Trump has imposed tariffs to make imports more expensive in industries like automobiles, arguing that the trade barriers will spur investment and innovation in the United States. He has also used tariffs, and their threat, to try to extract geopolitical concessions from countries. He has further unnerved investors by saying he does not care about the fallout of his actions on markets or American consumers, who will have to pay more for many goods if import prices rise.Over the weekend, Mr. Trump ramped up the pressure, threatening so-called secondary sanctions on Russia if it does not engage in talks to bring about a cessation of fighting in Ukraine. The tactic echoes similar sanctions concerning Venezuela. He said last week that any country buying Venezuelan oil could face another 25 percent tariff on its imports to the United States. The threats over the weekend add to tariffs of 25 percent on imported cars and some car parts set to be implemented this week, barring any last minute reprieve. That’s in addition to previously delayed tariffs on Mexico and Canada, as well as the potential for further retaliatory tariffs on other countries.Adding to investors’ angst is the scheduled release on Friday of the monthly report on the health of the U.S. jobs market. It could provide another reading of how the Trump administration’s policy pursuits are weighing on the economy.Keith Bradsher More
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The Guardian view on attacks on lawyers: democracies must stand up for justice | Editorial
What the law says on paper is irrelevant if it cannot be upheld, or even stated clearly. That is why lawyers are targeted – with harassment, disbarment from the profession or even jail – by repressive regimes.Russia’s attempts to suppress the voice of the opposition leader Alexei Navalny did not end with his death in an Arctic prison colony. In a bleak coda, three of his lawyers have been jailed for several years. Vadim Kobzev, Alexei Liptser and Igor Sergunin were found guilty of participating in an “extremist organisation” for relaying his messages to the outside world.The Center for Human Rights in Iran warned earlier this year that Iranian lawyers were being kicked out of the profession, arrested and jailed for representing protesters and dissidents. As its executive director, Hadi Ghaemi, noted: “Every lawyer imprisoned or disbarred represents many defendants whose rights have been trampled and now lack legal defence.”In China, where more than 300 human rights lawyers who had dared to take on sensitive cases were detained in 2015’s “709” crackdown, the pressure continues. As a grim joke had it at the height of the campaign, “even lawyers’ lawyers need lawyers” – those who represented arrested friends were then seized themselves.The unrelenting nature of the clampdown is particularly striking when, as one Chinese lawyer, Liang Xiaojun, observed: “We know we can’t win.” When the verdict is clear before a case has started, lawyers can only offer solidarity, spread their clients’ stories, and highlight the gulf between legal theory and reality. But in doing so, they challenge the official narrative. Targeting these lawyers didn’t just signal that resistance only invites further trouble. It attacked the concept of the rule of law itself, which lawyers had attempted to assert, hammering home the message that the party’s power was unassailable.The Council of Europe warned earlier this month that there are increasing reports of harassment, threats and other attacks on the practice of law internationally. The human rights body has adopted the first international treaty aiming to protect the profession of lawyer. Member states should now ratify this. Lawyers must be defended, as they defend others and the concepts of rules and justice.That message is more important than ever as the Trump administration turns on lawyers and judges as part of its broader assault on the institutions of US democracy and the principles that underpin them. The sanctioning of staff at the international criminal court is only the most flagrant example. William R Bay, president of the American Bar Association, told members in a recent letter: “Government actions evidence a clear and disconcerting pattern. If a court issues a decision this administration does not agree with, the judge is targeted. If a lawyer represents parties in a dispute with the administration, or … represents parties the administration does not like, lawyers are targeted.” Government lawyers too have faced “personal attacks, intimidation, firings and demotions for simply fulfilling their professional responsibilities”.Democratic governments and civil society must speak up for the law wherever it is threatened. Mr Bay is right to urge those in the profession to stand up and be counted. “If we don’t speak now, when will we speak?” he asks. The law still counts – both materially and culturally – in the US. Those who practise it need some of the courage in resisting abuses that their counterparts have shown elsewhere. More
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US allies worldwide decry Trump’s car tariffs and threaten retaliation
Governments from Tokyo to Berlin and Ottawa to Paris have voiced sharp criticism of Donald Trump’s sweeping tariffs on car imports, with several of the US’s staunchest long-term allies threatening retaliatory action.Trump announced on Wednesday that he would impose a 25% tariff on cars and car parts shipped to the US from 3 April in a move experts have predicted is likely to depress production, drive up prices and fuel a global trade war.The US imported almost $475bn (£367bn) worth of cars last year, mostly from Mexico, Japan, South Korea, Canada and Germany. European carmakers alone sold more than 750,000 vehicles to American drivers.France’s president, Emmanuel Macron, said on Thursday he had told his US counterpart that tariffs were not a good idea. They “disrupt value chains, create an inflationary effect and destroy jobs. So it’s not good for the US or European economies,” he said.Paris would work with the European Commission on a response intended to get Trump to reconsider, he said. Officials in Berlin also stressed that the commission would defend free trade as the foundation of the EU’s prosperity.Germany’s chancellor, Olaf Scholz, bluntly described Trump’s decision as wrong, and said Washington appeared to have “chosen a path at whose end lie only losers, since tariffs and isolation hurt prosperity, for everyone”.France’s finance minister, Eric Lombard, called the US president’s plan “very bad news” and said the EU would be forced to raise its own tariffs. His German counterpart, Robert Habeck, promised a “firm EU response”. “We will not take this lying down,” he said.Poland’s prime minister, Donald Tusk, said Europe would approach the US with common sense but “not on our knees”. Good transatlantic relations are “a strategic matter” and must survive more than one prime minister and one president, he said.The European Commission president, Ursula von der Leyen, described the move as “bad for businesses, worse for consumers” because “tariffs are taxes”. She said the bloc would continue to seek negotiated solutions while protecting its economic interests.The British prime minister, Keir Starmer, said the tariffs were “very concerning” and that his government would be “pragmatic and clear-eyed” in response. The UK “does not want a trade war, but it’s important we keep all options on the table”, he said.His Canadian counterpart, Mark Carney, said on social media: “We will get through this crisis, and we will build a stronger, more resilient economy.”Carney later told a press conference that his administration would wait until next week to respond to the new US threat of tariffs, and that nothing was off the table regarding possible countermeasures.He would, he added, speak to provincial premiers and business leaders on Friday to discuss a coordinated response.“It doesn’t make sense when there’s a series of US initiatives that are going to come in relatively rapid succession to respond to each of them. We’re going to know a lot more in a week, and we will respond then,” he said.One option for Canada is to impose excise duties on exports of oil, potash and other commodities. “Nothing is off the table to defend our workers and our country,” said Carney, who added that the old economic and security relationship between Canada and the US was over.South Korea said it would put in place a full emergency response to Trump’s proposed measures by April.China’s foreign ministry said the US approach violated World Trade Organization rules and was “not conducive to solving its own problems”. Its spokesperson, Guo Jiakun, said: “No country’s development and prosperity are achieved by imposing tariffs.”The Japanese prime minister, Shigeru Ishiba, said Tokyo was putting “all options on the table”. Japan “makes the largest amount of investment to the US, so we wonder if it makes sense for [Washington] to apply uniform tariffs to all countries”, he said.Reuters and Agence-France Presse contributed to this report More
- in US Politics
Trump floats easing tariffs on China in return for TikTok deal
Donald Trump has said he would be willing to reduce tariffs on China to get a deal done with TikTok’s Chinese parent company ByteDance to sell the social media app used by 170 million Americans.He acknowledged the role China would play in any agreement. “With respect to TikTok, and China is going to have to play a role in that, possibly in the form of an approval, maybe, and I think they’ll do that,” Trump told reporters on Wednesday. “Maybe I’ll give them a little reduction in tariffs or something to get it done,” he added.Trump’s comment suggests the sale of TikTok’s is a priority for his administration and important enough to use tariffs as a bargaining chip with Beijing.TikTok did not immediately comment.ByteDance has a 5 April deadline to find a non-Chinese buyer for TikTok or face a US ban on national security grounds that was supposed to have taken effect in January under a 2024 law.The move is the result of concern in Washington that TikTok’s ownership by ByteDance makes it beholden to the Chinese government and that Beijing could use the short video app to conduct influence operations against the US and collect data on Americans.In February and earlier this month, Trump added levies totalling 20% to existing tariffs on all imports from China.Getting China to agree to any deal to give up control of a business worth tens of billions of dollars has always been the biggest sticking point to getting any agreement finalised. Trump has used tariffs as a bargaining chip in the TikTok negotiations in the past.On 20 January, his first day in office, he warned that he could impose tariffs on China if Beijing failed to approve a US deal with TikTok.Vice-president JD Vance has said he expects the general terms of an agreement that resolves the ownership of the social media platform to be reached by 5 April.Reuters reported last week that White House-led talks among investors are coalescing around a plan for the biggest non-Chinese backers of ByteDance to increase their stakes and acquire the video app’s US operations, according to two sources familiar with the discussions.The future of the app used by nearly half of all Americans has been up in the air since a law – passed with overwhelming bipartisan support – required ByteDance to divest TikTok by 19 January.The app briefly went dark in January after the US supreme court upheld the ban, but flickered back to life days later once Trump took office. Trump quickly issued an executive order postponing enforcement of the law to 5 April and said last month that he could further extend that deadline to give himself time to shepherd a deal.The White House has been involved to an unprecedented level in the closely watched deal talks, in effect playing the role of investment bank.Free speech advocates have argued that the ban unlawfully threatens to restrict Americans from accessing foreign media in violation of the first amendment of the US constitution. More
