The China-US tariff negotiations send signals of easing; TEMU has stopped the full-service model in the US market; The EU relaxes the carbon emission

Recently, the China-US tariff negotiations have sent signals of easing. China has decided to agree to engage with the US. The Trump administration plans to lift the AI chip restrictions imposed during the Biden era. The China-US economic and trade relations are seeing a glimmer of hope for a breakthrough after a period of stalemate. In the cross-border e-commerce sector, affected by the new US tariff policy, TEMU has stopped its full托管 model in the US market. Shein has raised the prices of its products in the US to cope with the tariff impact, shifting from low-price competition to brand premium.

In addition, the trend of geopolitical diversification is becoming more prominent. The Middle East, as an emerging consumer market, is continuously strengthening its strategic position. Disney will open a new theme park in Abu Dhabi. The European Parliament has approved the EU to relax the carbon emission rules for car manufacturers, which will relieve the short-term transformation pressure and provide an opportunity for Chinese car manufacturers. The new energy sector shows great potential, with the overseas installed capacity of Honeycomb Energy increasing by 126%. The expansion into emerging markets and local layout may dominate the competition in the next stage.

Let's read this week's overseas expansion news to learn about the latest trends.

Ministry of Commerce: China decides to agree to engage with the US

Early on May 7, the Ministry of Foreign Affairs announced that Vice Premier He Lifeng will visit Switzerland from May 9 to 12 and hold talks with the US side during the visit. A spokesperson for the Ministry of Commerce said that since the new US administration took office, it has adopted a series of unilateral tariff measures that are both illegal and unreasonable, which have seriously impacted China-US economic and trade relations, disrupted the international economic and trade order, and posed severe challenges to the global economic recovery and growth. To safeguard its legitimate rights and interests, China has taken firm and forceful countermeasures.

Recently, senior US officials have been hinting at adjusting tariff measures and have actively conveyed messages to China through various channels, expressing their hope to engage in talks with China on issues such as tariffs. China has carefully evaluated the US messages. Based on full consideration of global expectations, China's interests, and the appeals of the US business community and consumers, China has decided to agree to engage with the US. As the Chinese lead for China-US economic and trade affairs, Vice Premier He Lifeng will hold talks with US Treasury Secretary Bethany, the US lead, during his visit to Switzerland. (Jiemian News)

TEMU has stopped its full托管 model in the US market

On May 7, it was reported that TEMU stopped its full托管 model in the US market at the end of April. The products in TEMU's US market are clearly marked with labels such as "local warehouse", "no import fees", and "no additional delivery fees". (Kechuangban Daily)

Trump administration reportedly plans to lift Biden-era AI chip restrictions

On May 8, it was reported that the Trump administration plans to lift the artificial intelligence chip restrictions imposed during the Biden era. The policy was originally scheduled to take effect on May 15, but it has not been finalized yet. The Trump administration believes that the restrictions during the Biden era were too complicated and hindered US innovation. It plans to replace them with simpler rules, with the goal still being to "consolidate the US leadership in the AI field". The export control policy introduced by the Biden administration previously divided countries into three categories to regulate the chip exports of companies such as NVIDIA. This policy has been opposed by technology companies and foreign governments. People familiar with the matter said that government officials are formulating new rules, and during this period, the US Department of Commerce will continue to strictly enforce chip export restrictions. (Jiemian News)

General Administration of Customs: China-US trade volume in the first four months was 1.44 trillion yuan, down 2.1%

On May 9, the General Administration of Customs released data showing that in the first four months, ASEAN was China's largest trading partner, with a total trade volume of 2.38 trillion yuan, up 9.2%, accounting for 16.8% of China's total foreign trade volume. The EU was China's second-largest trading partner, with a total trade volume of 1.78 trillion yuan, up 1.1%, accounting for 12.6%. The US was China's third-largest trading partner, with a total trade volume of 1.44 trillion yuan, down 2.1%, accounting for 10.2%. During the same period, China's total imports and exports with countries participating in the Belt and Road Initiative reached 7.25 trillion yuan, up 3.9%. Among them, exports were 4.15 trillion yuan, up 9.6%; imports were 3.1 trillion yuan, down 2.8%. (Jiemian News)

Shein raises prices of US products to cope with tariff impact, with some categories seeing a price increase of up to 377%

On April 28, before the US was about to impose tariffs on small parcels, fast-fashion giant Shein raised the prices of various products, from clothing to kitchenware, indicating that the potential impact of the trade war on US consumers is starting to emerge. According to data, most of the price increases occurred last Friday, and the price increase rates varied significantly among different categories. The average price of the top 100 best-selling products in the beauty and health category increased by 51% compared with last Thursday, and the prices of some products more than doubled. The average price increase of household items and toys exceeded 30%, and the price of a 10-piece set of kitchen towels skyrocketed by 377%. The price increase of women's clothing was relatively small, at 8%. (TMTpost)

European Parliament approves EU to relax carbon emission rules for car manufacturers

On May 6 local time, the European Parliament approved more lenient carbon dioxide emission targets for passenger cars and vans in the EU, which will give European car manufacturers more time to comply with the regulations and reduce potential fines. On April 1, the European Commission proposed a regulatory revision plan, suggesting that European car manufacturers be given more flexible emission compliance options in terms of the new carbon dioxide emission reduction targets for passenger cars and vans. (CCTV News)

The first China-Europe freight train e-commerce express line in the Greater Bay Area, from Shenzhen to Budapest, is launched

On April 28, it was reported that the first China-Europe freight train e-commerce express line in the Greater Bay Area departed from Shenzhen yesterday and will arrive in Budapest, Hungary, in 15 days. The China-Europe freight train (Shenzhen) e-commerce express line features strong stability, high safety, and large transport capacity, providing a new logistics channel for exported goods to expand into the international market. The China-Europe freight train (Shenzhen) European e-commerce express line will operate as a scheduled train. The first train carried products such as 3D printers and video game controllers, with the value of the goods exceeding 40 million yuan. After the launch of the special train, it will maintain a departure frequency of 1 to 2 times a week. (TMTpost)

Affected by US tariffs, many German retailers shift focus from the US to the European market

Recently, affected by the US tariff policy, more and more European retailers and consumer brands are shifting their focus from the US to Europe and other markets, as they expect that the US tariff policy will lead to price increases, thereby suppressing the demand of US consumers. The uncertainty of the US tariff policy will also put more pressure on their operations in the US market. Zalando, a European online fashion retailer headquartered in Germany, said on May 6 that the company is currently vigorously expanding the European market and is in talks with potential new customers. (CCTV News)

Disney to open new theme park in Abu Dhabi, entering the Middle East market

Disney has just announced plans to open a new theme park in the Middle East. The media and entertainment giant said on Wednesday that the new theme park and resort will be located in Abu Dhabi, United Arab Emirates (UAE), marking Disney's first major foray into the Middle East market and its seventh resort project globally. The project aligns with Disney's broader strategy of investing $60 billion in its theme parks and cruise businesses by 2033, with approximately $30 billion already earmarked for expansion projects in Florida and California. (Sina Finance)

Honeycomb Energy's overseas installed capacity surges 126%

According to Honeycomb Energy, its overseas installed capacity has witnessed explosive growth. Data shows that in April, Honeycomb Energy's overseas power battery shipments totaled 0.77 GWh, a year-on-year increase of 72%, setting a new monthly record for overseas shipments. In addition, from January to April, Honeycomb Energy's cumulative overseas shipments reached 63,115 vehicles, totaling 2.76 GWh, a year-on-year increase of 126%. (36Kr)

TikTok announces new data center project in Finland, with an investment of 1 billion euros

TikTok announced a new data center project in Finland on May 6 local time, taking an important step in the field of European data security. Through an investment of 1 billion euros, local developer HyperCo Oy will build a new data center in Kuovola, Finland. TikTok said that the new data center is a core part of the "Clover Project", which plans to invest 12 billion euros to provide data protection for 175 million European citizens. (Jiemian News)

Dingdong Maicai enters the Hong Kong market

Following the successful entry of Keeta, a food delivery platform under Meituan, into the Hong Kong market, Dingdong Maicai, another fresh food e-commerce platform focusing on instant delivery, recently announced its entry into Hong Kong. However, Dingdong Maicai did not adopt the e-commerce model of directly reaching C-end consumers in Hong Kong. Instead, it cooperated with DFI Retail Group in Hong Kong to provide a variety of products such as seasonal vegetables through Wellcome supermarkets under DFI. The two parties have set a target sales volume of 100 million Hong Kong dollars for the first year of cooperation. (36Kr)

Didi's overseas charter service launched in 26 cities in 11 countries

36Kr Overseas learned that to meet the travel needs of domestic users during the May Day holiday, Didi's overseas charter service was recently launched, covering 26 popular cities in 11 countries such as Singapore, Bangkok, Phuket, Seoul, Tokyo, Kuala Lumpur, and Sydney. When using Didi's overseas charter service, there is no need to bind a card or calculate the exchange rate, and it provides Chinese-language pages and Chinese-speaking drivers. Currently, Didi provides services in more than 1,200 cities in 9 countries including Hong Kong, China, South Korea, Singapore, Japan, Malaysia, Indonesia, and Vietnam. (36Kr)

CITIC Securities: Impact of tariffs on home appliance companies' performance is generally controllable

A research report by CITIC Securities believes that recently, the US has imposed additional tariffs on China, which has attracted the attention of the capital market. The report believes that major home appliance companies have taken corresponding measures to cope. In the short term, export-oriented companies have stocked up overseas in advance to reduce the impact on performance. In the medium and long term, major companies have actively deployed production capacity in Southeast Asia and Mexico to reduce the impact of tariffs. It should be noted that emerging markets such as the Middle East and Latin America are also growing, which helps to reduce the impact of fluctuations in US orders on domestic enterprises. The continuous increase of tariffs by the US has had a short-term impact on the performance of home appliance companies. However, considering the active measures taken by enterprises, CITIC Securities believes that the impact of tariffs on the companies' performance is generally controllable. (36Kr)

Maersk lowers outlook for global container market due to increased macroeconomic and geopolitical uncertainty

On May 8, Maersk reported a 7.8% increase in revenue in the first quarter of 2025, reaching $13.3 billion. Despite the intensifying market uncertainty, Maersk maintained its full-year financial outlook for 2025. The company also said that due to the increased macroeconomic and geopolitical uncertainty, the growth rate of the global container market volume this year has been revised from 4% to -1% to 4%. The chaos in the Red Sea is expected to continue until the second half of this year. (Jiemian News)

Foreign institutions show high enthusiasm for researching A-share companies, focusing on overseas expansion and cutting-edge businesses

Since the second quarter, foreign institutions have shown continuous high enthusiasm for researching A-share companies, "flocking" to listed companies. Wind data shows that from early April to May 8, more than 470 A-share companies received research visits from foreign institutions. Among them, Huaming Equipment, Hongfa Co., Ltd., and Luxshare Precision Industry Co., Ltd. received the most visits from foreign institutions. In terms of industries, companies in the fields of electronics, biomedicine, and machinery were favored. It was found that foreign institutions' concerns mainly focus on two major directions: one is the overseas business of A-share companies, including overseas market expansion and production capacity construction; the other is the latest situation in cutting-edge technology fields such as robotics, chips, and AI. (Shanghai Securities News)

Some startups in Silicon Valley adopt a six-day or even seven-day workweek

Artificial intelligence education company Arrowster, recruitment unicorn Mercor, and Corgi, a startup supported by the startup incubator Y Combinator, are taking the American-style "hustle culture" to a new level by adopting a six-day or even seven-day workweek.

Corgi, an insurance startup supported by Y Combinator, also warns job seekers in its recruitment information that the "rocketship" company (a term for fast-growing tech startups) requires employees to be "fully committed" to its fast-paced work. "Our office in San Francisco works seven days a week because we have the belief to break boundaries and achieve our goals," said Josh Jung of Corgi earlier this month in a LinkedIn update. (Forbes)

China Enterprises International Service Center and Fangda Law Firm jointly hold a legal compliance session of the "Overseas Expansion Practical Training Camp"

On May 16, the China Enterprises International Service Center will hold a legal compliance session of the "Overseas Expansion Practical Training Camp" in Qiantang, Hangzhou. In cooperation with Fangda Law Firm, a top domestic law firm, it will focus on key issues in overseas investment by enterprises, such as the reconstruction of overseas supply chains and joint ventures and acquisitions, to help enterprises successfully expand overseas. (Qiantang Going Global)

The Global Trade and Investment Promotion Summit 2025 will be held at the Diaoyutai State Guesthouse in Beijing on May 22

The theme of this year's summit is "Embracing the Digital and Intelligent Era and Jointly Promoting Common Development". It will feature an opening ceremony, a plenary session, and three parallel forums. The topic of the plenary session is "Empowering with Digital and Intelligent Technologies to Build a More Secure, Stable, Open, and Cooperative Global Industrial and Supply Chain". The parallel forums will conduct in-depth discussions on topics such as "Driving by Digital and Intelligent Technologies to Create an Open and Fair Innovation Ecosystem" and "Global Trade and Investment Cooperation in the Digital and Intelligent Era". The summit will also release the "Beijing Initiative of the Global Trade and Investment Promotion Summit 2025", calling on the global business community to jointly explore new forms and fields of cooperation and promote stronger, greener, and healthier global development. (Jiemian News)

This article is from the WeChat official account “Hangzhou Qiantang Enterprise Overseas Expansion Service Base”. The author is Qiantang Going Global, and it is published with authorization from Qiantang.