2025-05-09
13 分钟Chinese exports to the U.S. plunge as tariffs bite and Beijing looks to redirect more of its goods.
Plus, President Trump puts the recently rejected millionaire tax back on the table.
And teenage terrorists are becoming a growing threat to Europe's security.
when people, mostly young men, young boys, sit at home and self-radicalize online.
That makes them harder to find,
and it also means that the process of radicalization has accelerated.
It's Friday, May 9th.
I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News,
the top headlines and business stories moving your world today.
Chinese exports to the U.S. plunged in April as the Trump administration's tariff assault forced the world's second largest economy to redirect more of its goods to other markets.
It suggests there will be a shift in global trade flows where China continues to export a huge amount,
but fewer of those exports go to the U.S. and more of them go to other countries around the world.
Already, 85 percent of Chinese exports are not to the United States.
And Europe, South America, Southeast Asia, Africa, you name it,
there are many markets that China can still make deeper inroads into.
That's our Asia finance editor, Peter Landers, who notes that while exports to the U.S. slipped 21%,
overall exports from China rose 8.1% from a year earlier.
This was a bigger rise in exports than was expected,
but it does show that China has built this export juggernaut.
and some would say has a distorted economy that is more oriented towards exports and producers in China than getting consumers in China to spend on products that are made in their own country.