BUSINESS

Business Brief (Sept. 26): Trump Unveils New Tariffs

Published: Sep. 26, 2025 3:37 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

HOT TOPICS

New U.S. tariffs set for Oct. 1

U.S. President Donald Trump announced a new round of high tariffs on multiple import categories, effective Oct. 1. The measures include 50% tariffs on kitchen cabinets and bathroom vanities, 30% tariffs on furniture, and 100% tariffs on patented and brand-name drugs.

China starts trade barrier probe into Mexican restrictions

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

The U.S. set new tariffs effective Oct. 1: 50% on kitchen cabinets, 30% on furniture, 100% on patented and brand-name drugs.
China started a trade barrier probe into Mexico’s raised tariffs on goods from non-FTA partners, including China.
CATL’s market capitalization reached 1.84 trillion yuan ($253 billion), making it the third-most-valuable A-share stock.

AI generated, for reference only

Who’s Who

Contemporary Amperex Technology Co. Ltd.: Contemporary Amperex Technology Co. Ltd. (CATL) saw its A-shares rise over 5% and H-shares gain over 4%, both reaching record highs on September 25. Its total market capitalization exceeded 1.84 trillion yuan ($253 billion), surpassing Kweichow Moutai and ranking third among A-share companies.

Kweichow Moutai: Kweichow Moutai was surpassed by Contemporary Amperex Technology Co. Ltd. (CATL) in market capitalization. CATL's market value reached 1.84 trillion yuan, exceeding Kweichow Moutai's 1.8 trillion yuan. This made CATL the third most valuable A-share company, placing Kweichow Moutai fourth behind Industrial and Commercial Bank of China Ltd. and Agricultural Bank of China Ltd.

Industrial and Commercial Bank of China Ltd.: Industrial and Commercial Bank of China Ltd. is mentioned as one of the top A-share companies. It ranks higher than Contemporary Amperex Technology Co. Ltd. (CATL) in terms of market capitalization, placing it among the most valuable A-share companies, along with Agricultural Bank of China Ltd.

Agricultural Bank of China Ltd.: Agricultural Bank of China Ltd. is mentioned as the second-most-valuable A-share company. It ranks after Industrial and Commercial Bank of China Ltd. and ahead of Contemporary Amperex Technology Co. Ltd. (CATL).

ByteDance Ltd.: ByteDance Ltd. (字节跳动) has recently refuted rumors regarding a potential listing in Hong Kong. The article does not provide further details about the company's operations or financial performance.

Chery Automobile Co. Ltd.: Chery Automobile Co. Ltd. debuted in Hong Kong with a first-day market capitalization of HK$184 billion, as mentioned in the "NEWS SUMMARY" section under "Domestic" news.

Apple Inc.: Apple Inc. has voiced its opposition to the EU's Digital Markets Act. The company claims that the act is negatively impacting user experience.

AI generated, for reference only