Tech Brief (Nov. 6): China Rolls Back Tariffs, Sanctions on U.S. Entities in Trade Thaw
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China suspends U.S. tariffs and lifts sanctions
China announced adjustments to trade measures against the U.S. to implement a consensus reached in recent bilateral talks. On Nov. 5, the State Council’s Customs Tariff Commission said that starting Nov. 10, it will stop one set of retaliatory tariffs on U.S. imports and adjust another. The adjustment involves keeping a 10% additional tariff rate while continuing to suspend a 24% rate for one year.
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- China suspends and adjusts some U.S. tariffs and sanctions, effective Nov. 10, for one year.
- Dutch chipmaker Nexperia denies any China-EU deal on rare earths and semiconductors.
- Hong Kong charges 16 people in a JPEX crypto fraud case involving over HK$1.6 billion; SoftBank and OpenAI launch a Japan joint venture.
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Who’s Who
- Nexperia Holding BV
- Nexperia Holding BV, a Dutch chipmaker, denied rumors circulating in media about a comprehensive agreement between China and the European Union involving rare earths, semiconductors, and Nexperia itself. A spokesperson for Nexperia stated on November 5th that the news was "fake."
- Seres Group Co.Ltd.
- Seres Group Co.Ltd., already listed in Shanghai, debuted on the Hong Kong stock exchange on November 5th. Its shares opened below the IPO price but closed flat at HK$131.5. Seres collaborates with Huawei Technologies Co.Ltd. to produce the Aito electric-vehicle brand.
- Huawei Technologies Co.Ltd.
- Huawei Technologies Co. Ltd. partners with Seres Group Co. Ltd. to produce the Aito electric-vehicle brand. Seres Group Co. Ltd. debuted its shares in Hong Kong, ending its first day of trading unchanged from its IPO price.
- SoftBank Corp.
- SoftBank Corp.'s parent company, SoftBank Group Corp., has formed a joint venture with OpenAI called SB OAI Japan GK. This venture will introduce "Crystal intelligence," an enterprise AI solution package, in Japan by 2026. The solution will utilize OpenAI's technology to provide customized implementation and system integration services, supporting Japanese companies' digital transformation.
- SoftBank Group Corp.
- SoftBank Group Corp. has formed a joint venture called SB OAI Japan GK with OpenAI. This venture will launch an enterprise AI solution package named "Crystal intelligence," integrating OpenAI's latest products and offering customized services. The solution, expected to launch in Japan in 2026, aims to support the digital transformation of Japanese companies.
- OpenAI
- OpenAI, referred to as 开放人工智能研究中心 in Chinese, has formed a joint venture called SB OAI Japan GK with SoftBank Group Corp. This venture will launch an enterprise AI solution package called "Crystal intelligence" in Japan in 2026, integrating OpenAI's latest products and offering customized services to Japanese companies for digital transformation.
- SB OAI Japan GK
- SB OAI Japan GK is a joint venture formed by SoftBank Group Corp. and OpenAI. It will launch an enterprise AI solution package called "Crystal intelligence" in Japan in 2026. This package will integrate OpenAI’s products and offer customized implementation and system integration services to support Japanese companies' digital transformation.
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What Happened When
- 2023：
- JPEX crypto fraud case first came to light.
- March 2025：
- China imposed sanctions on certain entities; these sanctions were lifted on Nov. 5, 2025.
- Nov. 3, 2025：
- Social media posts claimed that China and the EU had reached a provisional coordination memorandum on rare earth and semiconductor supply chains.
- Nov. 4, 2025：
- Social media posts about the rumored China-EU agreement circulated; Nexperia denies the rumor on the following day.
- Nov. 5, 2025：
- China’s State Council’s Customs Tariff Commission announced the suspension of one set of retaliatory tariffs on U.S. imports and adjustments to another set, effective Nov. 10, 2025.
- Nov. 5, 2025：
- China’s Ministry of Commerce announced it would pause for one year measures against certain U.S. firms on its unreliable entity list starting Nov. 10, 2025; sanctions imposed on other entities in March 2025 were lifted.
- Nov. 5, 2025：
- Nexperia spokesperson publicly denied rumors of a China-EU deal.
- Nov. 5, 2025：
- Shares of Seres Group Co. Ltd. debuted flat in Hong Kong, closing at their IPO price after opening below issue price.
- Nov. 5, 2025：
- Hong Kong police formally charged 16 people, including six JPEX core members, in a crypto fraud case involving over HK$1.6 billion; three other core members abroad were subject to Interpol red notice.
- Nov. 5, 2025：
- SoftBank Corp. announced that SoftBank Group formed a joint venture with OpenAI in Japan.
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