United News of Bangladesh

Japan’s exports and imports both rose in September, driven by stronger trade with Asian markets even as U.S.-bound shipments declined under President Donald Trump’s tariff regime, government data showed Wednesday. According to Japan’s Ministry of Finance, exports increased 4.2% year-on-year last month, supported by a 9.2% jump in shipments to Asia. Exports to China, Japan’s largest trading partner, climbed 5.8%, while exports to the U.S. plunged 13.3% — marking the sixth consecutive month of decline. Auto exports to the U.S. were hit particularly hard, tumbling 24.2% in September. Japan’s automotive sector, led by manufacturers such as Toyota Motor Corp., remains a cornerstone of the national economy. Imports also edged up 3.3% overall, including a 6% rise in imports from Asia and a 9.8% increase in goods coming from China. The trade figures were released a day after Sanae Takaichi became Japan’s first female prime minister following a parliamentary vote. Known for her conservative stance and advocacy for higher public spending, Takaichi has pledged to boost wages and maintain an accommodative monetary policy to support economic growth. Japan’s Nikkei surges 4.5% after ruling party picks ultra-conservative leader Sanae Takaichi A weaker yen under such policies would benefit Japan’s major exporters by inflating overseas earnings when converted into domestic currency. However, Takaichi faces political challenges, as her ruling Liberal Democratic Party and its coalition partners lack a majority in both houses of parliament. President Donald Trump, who is scheduled to visit Japan later this month for talks with Takaichi, announced a new trade framework in July imposing a 15% tariff on Japanese goods — down from a previously proposed 25%. In return, Japan agreed to invest $550 billion in the U.S. and open its markets further to American cars and rice. Source: AP 

China’s economy grew 4.8% year-on-year in the July–September quarter, marking its slowest pace in a year as trade tensions with the United States and subdued domestic demand weighed on activity. The latest figures, released Monday, represent a decline from the 5.2% growth recorded in the previous quarter and the weakest performance since the third quarter of 2024. Over the first nine months of 2025, the world’s second-largest economy expanded at an average annual rate of 5.2%. Despite higher U.S. tariffs imposed by President Donald Trump, Chinese exports remained resilient, buoyed by increased sales to other global markets. Exports to the U.S., however, plunged 27% in September compared to a year earlier, even as overall exports rose 8.3% — the strongest growth in six months. Exports of electric vehicles doubled year-on-year in September, while domestic passenger car sales climbed 11.2%, slower than August’s 15% rise. China’s slowdown has also been driven by government efforts to rein in price wars in industries such as autos, alongside a prolonged property market slump that continues to drag on consumer spending and investment. Residential property sales by value fell 7.6% in the January–September period, while industrial output rose 6.5% in September — the fastest pace since June. Retail sales growth, however, eased to 3%. Taiwan’s TSMC reports nearly 40% jump in net profit on AI boom S&P forecasts that new home sales will drop 8% in 2025 and another 6–7% in 2026. The World Bank expects China’s economy to grow 4.8% this year, slightly below the government’s target of “around 5%.” China’s stock markets rose Monday, with Hong Kong’s Hang Seng Index gaining 2.3% and the Shanghai Composite up 0.5%. Economists said Beijing may introduce more policy support to boost consumption and stabilize the property sector, with some anticipating an interest rate cut by year-end. Source: AP 

China’s ruling Communist Party begins one of its most significant political meetings on Monday, as President Xi Jinping and top party leaders gather in Beijing to chart the nation’s development goals for the next five years. The closed-door session, known as the fourth plenum, will run for four days to finalize China’s five-year blueprint for 2026–2030. The discussions come amid rising trade tensions with Washington and ahead of a possible meeting between Xi and U.S. President Donald Trump at a regional summit later this month. About 370 members of the party’s central committee are expected to attend the meeting, which may also involve key personnel reshuffles. Details of the discussions will likely emerge only after the session ends. Taiwan’s TSMC reports nearly 40% jump in net profit on AI boom Economists say the new plan is expected to maintain continuity with previous ones, focusing on technological self-reliance, domestic consumption, and sustainable growth, as China grapples with property sector woes, slowing growth, and an aging population. Xi is also likely to emphasize innovation and national stability as central to China’s long-term strategy. Source: AP 

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest computer chip maker, on Thursday reported a nearly 40% rise in net profit for the July-September quarter, driven by soaring demand for artificial intelligence applications. TSMC posted a record net profit of 452.3 billion New Taiwan dollars ($15 billion), surpassing analysts’ expectations, while revenue rose 30% year-on-year. The company supplies major tech firms, including Apple and Nvidia. To mitigate risks from China-U.S. trade tensions, TSMC is expanding its chip fabrication capacity in the United States and Japan. The company has pledged $100 billion in U.S. investments, including new factories in Arizona, in addition to a prior commitment of $65 billion. US seizes $14 billion in bitcoin, charges Cambodian executive in massive crypto scam “Demand for TSMC’s products remains robust,” analysts at Morningstar said. “Given the company’s market dominance, it is unlikely to be significantly affected by potential tariffs on shipments to U.S. customers. AI demand is expected to remain strong.” Last month, U.S. Commerce Secretary Howard Lutnick suggested splitting global chip production equally between Taiwan and the United States — a proposal Taiwan rejected, as the island continues to host the bulk of global semiconductor manufacturing. Source: AP 

The United States has seized more than $14 billion worth of bitcoin and charged Cambodian businessman Chen Zhi, chairman of Prince Holding Group, in one of the world’s largest cryptocurrency fraud cases. Prosecutors accused Chen and his associates of operating a massive “pig butchering” scam that exploited forced labor, defrauded investors, and laundered billions of dollars through luxury purchases — including yachts, private jets, and even a Picasso painting. According to an indictment unsealed Tuesday in a Brooklyn federal court, Chen, 38, faces charges of wire fraud and money laundering conspiracy. The U.S. Treasury Department declared Prince Holding Group a transnational criminal organization, while U.S. and U.K. authorities imposed sanctions on the conglomerate, which has interests in real estate and finance. Officials said Chen oversaw a vast cyberfraud empire, authorizing bribes, violence, and forced labor to sustain the operation. He allegedly boasted that his scam network generated up to $30 million daily. U.S. Attorney Joseph Nocella described the case as “one of the largest investment fraud operations in history.” If convicted, Chen faces up to 40 years in prison. He remains at large. Authorities said the U.S. could use the seized 127,271 bitcoins — currently worth about $113,000 each — to compensate victims. Investigators revealed that Prince Holding Group built at least 10 compounds in Cambodia where trafficked workers were forced to run online scams targeting victims worldwide. The compounds, some linked to casinos and hotels, were heavily guarded and equipped with call centers controlling thousands of fake social media accounts. Bitcoin surges past $118,000 for first time as Crypto momentum grows Prosecutors said workers were beaten, held captive, and forced to lure victims into fake investment schemes. Some victims lost hundreds of thousands of dollars in cryptocurrency. Photos included in the indictment showed severely injured workers. The U.S. Treasury Department said Chen personally approved at least one beating but warned that the victim should not be “beaten to death.” Witnesses said escapees from one compound were “beaten until they are barely alive.” Chen, also known as “Vincent,” is a Chinese-born tycoon who holds the Cambodian royal honorific title “neak oknha” and has served as an adviser to Prime Minister Hun Manet and former leader Hun Sen. Experts said the case exposes deep links between Cambodia’s ruling elite and global scam networks. “These actions won’t end the scam economy overnight,” said Jacob Daniel Sims, a transnational crime expert at Harvard University, “but they send a clear signal that elite crime as a governing strategy carries growing international risks.” In 2023, the UN estimated that about 100,000 people were being forced to work in online scam operations in Cambodia, alongside tens of thousands more across Myanmar, Thailand, Laos and the Philippines. Source: AP 

China has imposed sanctions on five U.S.-based subsidiaries of South Korean shipbuilder Hanwha Ocean, escalating tensions over Washington’s investigation into Beijing’s growing dominance in global shipbuilding. The Chinese Ministry of Commerce announced on Tuesday that all Chinese companies are now barred from conducting business with the sanctioned entities — Hanwha Shipping LLC, Hanwha Philly Shipyard Inc., Hanwha Ocean USA International LLC, Hanwha Shipping Holdings LLC, and HS USA Holdings Corp. The ministry also said it has launched its own investigation into the U.S. probe, calling it a threat to China’s national security and maritime industry. It accused Washington of using trade measures to undermine China’s position in the global shipbuilding sector. The U.S. Trade Representative initiated the Section 301 trade investigation in April 2024, concluding that China’s dominance in the industry was putting American shipbuilders at a disadvantage. Maritime trade has become a fresh battleground in U.S.-China relations, with both sides introducing new port fees on each other’s vessels effective Tuesday. Hanwha Ocean, one of South Korea’s leading shipbuilders, has been expanding its footprint in the U.S. market. The company acquired Philly Shipyard in Pennsylvania late last year for $100 million and announced a $5 billion investment plan in August to build new docks and quays in support of U.S. efforts to revive domestic shipbuilding. In its announcement, Beijing said the new Chinese port fees will apply to ships owned or operated by U.S. companies or individuals, those with a 25% or higher U.S. ownership stake, vessels flying the U.S. flag, and those built in the United States.   Source: AP

China’s exports to the United States slumped 27% in September compared with a year earlier, even as its overall global shipments recorded the strongest growth in six months, official data showed Monday. According to customs figures, China’s worldwide exports rose 8.3% year-on-year to $328.5 billion, beating economists’ expectations and improving sharply from August’s 4.4% growth. Imports also rose 7.4%, recovering from a modest 1.3% increase the previous month, though weak domestic demand and a deepening real estate downturn continue to cloud the outlook. Exports to the United States have now declined for six consecutive months, following a 33% drop in August, as trade tensions between Beijing and Washington intensify. The renewed strain comes amid an escalating tariff dispute between the two economic powers. U.S. President Donald Trump has threatened to impose an additional 100% tariff on Chinese goods and introduce new export controls on “critical” software. Beijing retaliated by announcing new port fees on American ships and expanding export restrictions on lithium-ion batteries, rare earths, and related technologies. The growing friction has cast doubt on a potential meeting between Trump and Chinese President Xi Jinping later this month, underscoring the limited progress toward a comprehensive trade deal. China vows to stand firm against Trump's 100% tariff threat Despite the U.S. slump, China’s exports to other regions surged — shipments to Southeast Asia rose 15.6%, while exports to Latin America and Africa jumped 15% and 56%, respectively. “China’s exports continue to show resilience given the low costs and limited alternatives globally, despite higher tariffs,” said Gary Ng, senior economist at Natixis. Analysts say China’s strategy to diversify export markets is helping offset losses from the U.S., but ongoing policy headwinds and geopolitical tensions remain major risks for trade growth. Source: AP 

China signaled Sunday that it would not back down in the face of a 100% tariff threat from President Donald Trump, urging the U.S. to resolve differences through negotiations instead of threats. U.S. Vice President JD Vance defended Trump's position and seemed to warn China not to be aggressive in its response. “China’s stance is consistent,” the Commerce Ministry said in a statement posted online. “We do not want a tariff war but we are not afraid of one.” It was China's first official comment on Trump's threat to jack up the tax on imports from China by Nov. 1 in response to new Chinese restrictions on the export of rare earths, which are vital to a wide range of consumer and military products. The back and forth threatens to derail a possible meeting between Trump and Chinese leader Xi Jinping and end a truce in a trade war in which new tariffs from both sides briefly topped 100% in April. In response, Vance said Sunday that Trump is committed to protecting America's economic livelihoods while making the United States more self-sufficient. He said the fact that China has “so much control over critical supply in the United States of America" is the definition of a national emergency and therefore justifies Trump's move to impose tough tariffs. “It’s going to be delicate dance and a lot of it is going to depend on how the Chinese respond. If they respond in a highly aggressive manner, I guarantee you the president of the United States has far more cards than the People’s Republic of China,” Vance said on Fox News Channel's “Sunday Morning Futures.” “If, however, they’re willing to be reasonable, then Donald Trump is always willing to be a reasonable negotiator. We’re going to find out a lot in the weeks to come about whether China wants to start a trade war with us or whether they actually want to be reasonable,” Vance continued. "I hope they choose the path of reason. The president of the United States is going to defend America regardless.” Trump has raised taxes on imports from many U.S. trading partners since taking office in January, seeking to win concessions. China has been one of the few countries that hasn't backed down, relying on its economic clout. “Frequently resorting to the threat of high tariffs is not the correct way to get along with China,” the Commerce Ministry said in its post, which was presented as a series of answers from an unnamed spokesperson to four questions from unspecified media outlets. The statement called for addressing any concerns through dialogue. “If the U.S. side obstinately insists on its practice, China will be sure to resolutely take corresponding measures to safeguard its legitimate rights and interests,” the post said. In addition to the 100% tariff, Trump threatened to impose export controls on what he called “critical software,” without specifying what that means. Both sides accuse the other of violating the spirit of the truce by imposing new restrictions on trade. Trump said in a social media post that China is “becoming very hostile” and that it is holding the world captive by restricting access to rare earth metals and magnets. The Chinese Commerce Ministry post said the U.S. has introduced several new restrictions in recent weeks, including expanding the number of Chinese companies subject to U.S. export controls. On rare earths, the ministry said that export licenses would be granted for legitimate civilian uses, noting that the minerals also have military applications. The new regulations include a requirement that foreign companies get Chinese government approval to export items that contain rare earths sourced from China, no matter where the products are manufactured. China accounts for nearly 70% of the world’s rare earths mining and controls roughly 90% of their global processing. Access to the material is a key point of contention in trade talks between Washington and Beijing. The critical minerals go into many products, from jet engines, radar systems and electric vehicles to consumer electronics including laptops and phones. China’s export controls have hit European and other manufacturers, as well as American ones. The Commerce Ministry statement said that the U.S. is also ignoring Chinese concerns by going forward with new port fees on Chinese ships that take effect Tuesday. China announced Friday that it would impose port fees on American ships in response.  

China has announced new restrictions on exports of rare earth elements and related technologies, extending its control over materials vital to global high-tech and defense industries. The move comes just weeks before a planned meeting between US President Donald Trump and Chinese leader Xi Jinping. The Ministry of Commerce said Thursday that foreign companies will now require special approval to export products containing even trace amounts of rare earths sourced from China. The new rules also include licensing requirements for technologies related to mining, smelting, recycling, and magnet production — with military-related applications expected to be denied outright. China produces nearly 70% of the world’s rare earths and handles about 90% of global processing, giving Beijing significant leverage in global supply chains. Analysts say the tighter controls underscore China’s strategic use of critical minerals amid ongoing trade tensions with Washington. “Beijing’s rare earth policy has become a powerful tool of economic and geopolitical influence,” said Gracelin Baskaran of the Center for Strategic and International Studies. Tesla launches cheaper Model Y and Model 3, but investors remain unimpressed US-based analysts warned the new measures could accelerate investments to build independent “mine-to-magnet” supply chains outside China. American companies, including MP Materials and Noveon, are already working to reduce reliance on Chinese suppliers, supported by over $500 million in recent US government investments. The European Commission also voiced concern, urging China to remain a “reliable partner” and ensure predictable access to critical raw materials. Global markets steady as AI surge lifts tech shares; IBM jumps on Anthropic partnership Experts view Beijing’s decision as both a strategic move and an escalation in the ongoing trade war. “This should be a wake-up call for Washington to rebuild its rare earths industrial base,” said former US Commerce Department official Nazak Nikakhtar. Source: AP 

Tesla has unveiled lower-priced versions of its Model Y and Model 3 electric vehicles in an effort to boost slowing sales, but the move failed to impress investors, sending its stock down on Tuesday. The new Model Y, priced just under $40,000, features a simplified interior and reduced specifications. The release comes during a challenging year for the company, which faces a maturing product lineup, growing competition from foreign EV makers, and boycotts linked to CEO Elon Musk. Market analysts said the new versions are unlikely to provide the spark investors were hoping for. “Investors were looking for something truly different, not an iteration of an old product,” said Edmunds analyst Ivan Drury, as Tesla shares dropped sharply near the close of trading. Tesla also introduced a cheaper Model 3 starting below $37,000, which falls under $35,000 in New York after state rebates. However, both models remain above the $25,000 price point Tesla once promised for a mass-market vehicle. The rollout coincides with declining EV demand in the U.S. following the expiration of a $7,500 federal tax credit, prompting many customers to delay purchases. Tesla stock slid 4.5% to $443.09 on Tuesday, erasing gains from the previous day when anticipation of the new models had pushed shares up over 5%. The new Model Y offers a shorter 321-mile range, fewer speakers, and a fabric interior instead of microsuede. It also lacks features like a panoramic glass roof and rear touchscreen, placing it in competition with EVs such as Ford’s Mustang Mach-E, Chevrolet’s Equinox EV, and Hyundai’s Ioniq 5. Similarly, the new Model 3 reduces driving range, ambient lighting, and other premium features.