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1. US appeal court allows Donald Trump’s tariffs to stay in effect
A US federal appeal court has temporarily halted a lower-court ruling against President Donald Trump’s “Liberation Day” reciprocal tariffs, as well as a separate set of fentanyl-related levies on China, Mexico and Canada, the latest in a string of twists that leave the state of global trade hanging in the balance.
2. China already had a graduate jobs crisis. The trade war is making it worse
China’s youth unemployment rate shot up during the Covid-19 pandemic and has remained high ever since, with the country’s economy – hamstrung by weak consumer demand and a prolonged real estate slump – struggling to create enough high-quality jobs to absorb a ballooning number of graduates.
3. ‘Xenophobic’: US ban on Chinese student visas provokes backlash
The Chinese embassy in Washington lodged a “solemn démarche with the US side without delay” on Thursday amid a growing backlash, including accusations of xenophobia, within the United States towards its decision to “aggressively” revoke Chinese student visas.