U.S. cuts tariffs on agricultural equipment
The U.S. lowered tariffs on agricultural equipment, including combines and harvesters, from 25% to 15%. The temporary tariff adjustments will remain in place through Dec. 31, 2027, as part of an effort to encourage investment in U.S. agriculture.
Tencent Cloud slashes AI prices
Tencent Cloud said that it has cut prices for its DeepSeek-V4 series models by up to 97.5%, while maintaining model performance.
Ministry of Finance allocates childcare subsidies
The Ministry of Finance allocated 99.9 billion yuan ($14.8 billion) in childcare subsidies for 2026, an increase of 10.6% from the previous year, to support local governments in providing subsidies for eligible infants and toddlers. Total financial subsidies across all levels of government are expected to reach about 110 billion yuan for the year.
NEWS SUMMARY
China’s Ministry of Commerce said an additional 55% tariff will be imposed on imported Australian beef starting on the third day after import volumes reach 100% of the stipulated quota.
Global smartphone shipments are projected to hit a more than 10-year low in 2026 as storage shortages and the U.S.-Iran conflict exacerbate cost pressures.
Contact editor Lin Jinbing (jinbinglin@caixin.com)
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