China says that it can do without American farm and energy

Hello and welcome to Firstft Asia. In today's newsletter:

• China seeks to reassure the public on the economy

• Why cannot be built iphones in the United States

• An editorial on the Indian Water Treaty and Indian Safety

We start in Beijing, where the main Chinese economic officials used a press conference yesterday to reassure the public on the state of the economy in the middle of a trade war with the United States. Here's more about what they said.

Projected confidence: Zhao Chenxin, vice-president of the National Development and Reform Commission, the Chinese State planner, said the country could do without American farm and energy imports. American agricultural imports were “mainly intended for food grains, which were very substitutable,” said Zhao, and noted that there would be a limited impact on China's energy supplies if companies stopped importing American oil, natural gas and coal.

With bilateral American-Chinese bilateral prices at more than 100%, trade between the two economic superpowers began to fall, which made Chinese factories start workers on leave. But Zhao argued that Beijing was “fully confident” to achieve the country's growth target of the country for the year, even if he admitted that “external shocks increased”.

Impact of trade war: The loss of the Chinese market would be a substantial success for American farmers, who have sent around $ 33 billion in agricultural products to the country in 2023. The United States also sent around $ 15 billion in oil, gas and coal in China. There is a growing desire in the Trump administration for talks with Beijing, but China has shown little appetite for negotiations and has repeatedly afflicted the affirmations of Washington as false discussion. Last week, Beijing said the United States should cancel its prices as a starting point for commercial negotiations. Read the full story.

• China oil storage: Chinese oil merchants put aside concerns about the long -term economic damage of an American trade war as they seek to Take advantage of one of the short -term consequences: lower crude prices.

• Chinese export of clean technologies exports: China has Rapid sale of sales Solar panels, batteries and other green energy technologies with emerging markets long before the American tariff fight, according to the latest data.

Here is what we keep any other eye on today:

• Japanese-Philippines relations: Japanese Prime Minister Shigeru Ishiba begins a visit to Manila, where he will meet his Philippin counterpart Ferdinand Marcos Jr.

• Canadian election results: The first surveys close in the coming hours. The vote, which was overshadowed by Trump's attacks on the country's sovereigntyOpposite Prime Minister Mark Carney to the leader of the Conservative Party Pierre Hairyvre.

• Profits season: HSBC, China Construction Bank and the industrial and commercial report for reports.

Do you think of your next trip? Join the FT and Nikkei Inc. when we explore why Japan is at the top of the global travel lists and how you can make the most of your next visit. Register for free.

Five other best stories

1. Actions in a band of companies increased yesterday in Tokyo after a plan of $ 42 billion to take the manufacturer of car parts Toyota Industries Private Hopes triggered with a wider overhaul of the landscape of Japan companies. Investors are Place bets on subsidiaries and affiliates They also think they are under pressure to change their property relationship.

2. The Pirelli Board of Directors voted to strip the Chinese Conglomerate Sinochem, its largest shareholder, Control on the Italian tire society in the midst of clashes on its governance. The members of the Italian and Chinese board of directors have disagreed for some time, and the tensions have been further reinforced by the Trump trade war with China and its implications for the American expansion of Pirelli. Here are more details.

3. European and Ukrainian officials fear that Trump will be about to move away from peace negotiations with kyiv and Moscow, Potentially using minor progress in talks as an “excuse” to say that his work is done, according to people informed of the discussions. Civil servants are Convinced that Trump is ready to grasp all kinds of breakthrough This week, which marks its first 100 days in power – even if it is not a long -term solution.

4. A mystery power outage struck Spain and Portugal yesterday, Paralyze transport networks and disrupt mobile communications. The Spanish government has declared the state of emergency because large areas were faced with one night without electricity. Here is more on the ravages caused by the massive breakdown.

5. The acting director general of the Neom of Saudi Arabia has launched in recent weeks a “complete review” The scope and priority of projects within the framework of the flagship regime of Crown Prince Mohammed Bin Salman, two people familiar with the case said. Aiman ​​Al-Mudaifer was appointed last year to lead the mega project of $ 500 billion Ascending examination of the futuristic plan.

Visual story

The Trump administration wants Apple to manufacture its iPhones in the United States instead of China, where most of them are currently manufactured. But our last visual story shows how the components that feed it make it very impractical.

We also read. . .

• Industry Water Treaty: India's decision to undermine the water sharing agreement with Pakistan jeopardize Rather than promoting New Delhi's continuation of sustainable security, writes Sunil Amrith.

• Battle of battery: A The new front has opened its doors In the battle between Chinese and South Korean companies that dominated cellular production for electric vehicles.

• Gen Z on the workplace: The data show that the youngest workers – more than baby boomers – want to Connection and routine of work in person.

Graphic of the day

The number of American students who seek to study in British universities has increased sharply Since Trump launched his attack on some of the main US higher education establishments, data have been showing.

Take a break in the news

Are you ready for Roti? The recipes for Malaysian flat bread in butter are difficult to find, but a master Roti factory is Publish your recipe for the first time With a step -by -step guide in his new cooking book.