China's tit-for-tat tariffs on US set to take effect

China and the US risk renewing a full-blown trade war unless the two largest economies can defuse the dispute before Chinese tariffs on $14Bn of American exports take effect on Monday, analysts warned.

President Donald Trump last week unveiled an extra 10% tariff on Chinese goods to force Beijing to do more to tackle Fentanyl-Related exports to the us and Mexico and threatened more if China RETALIATED.

When the US duties took effect three days later, Beijing immediately hit back, announcing additional 10 to 15% duties on us energy exports and farm equipment.

China’s duties are due to take effect on Monday. “This could be just the beginning of this phase of the trade war,” said Zhang Yanshen, an expert at the China center for international economic exchanges.

On Friday, Trump said he was planning “reciprocal tariffs” on other nations in the coming days as he aims to reshape the US' global trade relationships.

The President did not say which countries could be targeted but suggested it would a broad effort that may also help solve us budget problems. From 10 February, China will charge a 15% border tax on imports of US coal and liquefied natural gas products.

There is also a 10% tariff on American crude oil, agricultural machinery and Large-engine cars.

Reference Sources

1. ft - US and China teeter on edge of trade war as tariff deadline looms
2. bbc - China's tit-for-tat tariffs on US set to take effect
3. nikkei - China's tit-for-tat tariffs, Modi-Trump talks, Malaysia GDP
4. ft - China’s US tariffs become a reality

AI Summit opens as EU fears irrelevance in face of US, China

(Source: EPA-EFE)

The global artificial intelligence action summit is set to take place in Paris, bringing together 5,000 artificial intelligence (AI) experts and 80 world leaders to discuss the latest developments in the world's hottest technology.

The summit aims to agree on a number of international protocols, unveil large investments, and adopt a joint declaration defying sustainable and responsible ai.

The summit comes as AI technology growth is more unhinged than ever, permeating routines and industrial processes and begging serious questions over national security risks in a field predominantly dominated by the US and China.

The summit is the latest in a series of global dialogues around AI Governance, but one that comes at a fresh inflection point as China's buzzy and budget-friendly DeepSeek chatbot shakes up the industry. Companies in Singapore are cautious about using DeepSeek despite its cost-saving potential, citing concerns over data security and AI biases.

Reference Sources

1. euractiv - AI Summit opens as EU fears irrelevance in face of US, China
2. cnbc - Trump's AI ambition and China's DeepSeek overshadow an AI summit in Paris
3. malaymail - AI breakthrough or security threat? Singapore firms assess DeepSeek’s impact as data privacy concerns persist
4. usnews - Trump's AI Ambition and China's DeepSeek Overshadow an AI Summit in Paris
5. france24 - Paris AI Summit: From AI safety to commercial development
6.  

Sony PlayStation Network reports major global outage

(Source: Shutterstock)

Sony's Playstation network experienced a multi-hour outage on Friday evening, disrupting the digital economy surrounding the system and knocking Sony's stock.

The outage affected account management, gaming and social, Playstation Video, Playstation store, and the Playstation direct all were still facing issues as of Saturday morning.

The cause of the outage is unknown, as is the duration of these disruptions. Frustrated gamers have taken to social media to criticize the company for offering little explanation.

Some players report that service has returned but remains unstable as of approximately 3:30 am Philippine time on Sunday. social media platforms, including Reddit and X (formerly Twitter), have been flooded with complaints from Gamers unable to access Online services.

Reference Sources

1. tribune - PlayStation Network faces extended outage, gamers frustrated
2. newyorkpost - PlayStation Network suffers global, multi-hour outage: 'This is ridiculous'
3. businessinsider - PlayStation's daylong global outage disrupted the online gaming economy and knocked Sony's stock
4. brusselstimes - PlayStation network down for several hours
5. cnnen - Sonys PlayStation Network reports major global outage

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.

Have you read?

• Daily News Digest: US Trade Deficit Soars
• Daily News Digest: Trump Wants Rare Earth Resources From Ukraine in Exchange for Aid
• Daily News Digest: Trump Reaffirms Vow to End Ukraine War

​​​​​​​Uploaded by Ian Huang