Europe has historically resisted the adoption of residential air conditioning—until this summer. Last week, France recorded its hottest week on record. The national daily average temperature reached an unprecedented high, with some localized sensors peaking at 44.3°C. In response, 72 departments—covering roughly three-quarters of the country—were placed under the highest-level red alert for extreme heat. Meanwhile, in Andalusia, Spain, temperatures surged to 45.1°C, marking continental Europe’s highest temperature extreme of the century. Amid this unprecedented heat wave, a Chinese-made portable air conditioner has become a runaway sensation across the continent. Midea Group’s "PortaSplit," a portable split-system air conditioner, has entirely sold out across Germany, Spain, and France. On
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Shipping Gridlock: New US Customs Rule Forces Freight Forwarders to Reject E-Commerce Cargo
By | Yi En NextFin News — "Starting July 8, 2026, all imported consumer goods regulated by the CPSC that require a CPC or GCC must submit core compliance data electronically to the ACE system before the cargo arrives at the port for customs clearance." "Goods without this declaration face customs detention, clearance delays, or forced returns. The old model of clearing customs first and providing certificates later will no longer be supported." As this deadline approaches, detailed policy warnings are flooding cross-border e-commerce groups. Panic over compliance is spreading. While most merchants want to comply, the industry currently lacks a standardized, clear blueprint for execution. This leaves many operators unsure how to proceed. At the same time, high testing and certification fees
Momenta’s IPO: The Quest for Profitability Behind the "First Physical AI Stock"
Momenta launches its share offering For years, the capital markets treated autonomous-driving startups less like businesses and more like futuristic research labs. Valuations were untethered from reality, buoyed entirely by grand, long-horizon promises of Level 4 autonomy and fleets of driverless robotaxis roaming science-fiction cityscapes. That era of speculative idealism is officially over. On June 29, Momenta released its global offering prospectus, launching a high-profile share sale that marks its debut on the Hong Kong Stock Exchange under the ticker "6880." The autonomous-driving frontrunner is presenting public markets with a fundamentally altered thesis: the industry’s defining metric is no longer the sophistication of its algorithms, but the cold mechanics of its balance sheet.
Momenta’s IPO: The Quest for Profitability Behind the "First Physical AI Stock"
Europe’s Scorching Summer Sparks a Frenzy for Chinese Air Conditioners
Europe’s Scorching Summer Sparks a Frenzy for Chinese Air Conditioners
Apple CEO Tim Cook Appears in China's Livestream as iPhone Air to Hit the Market Next Week
TMTPOST -- Apple Inc. CEO Tim Cook is visiting China as his company is gearing up launch of the thinnest and lightest iPhone ever made in the world’s largest smartphone market. Credit：Apple Cook on Monday surprisingly appeared during an Apple Store livestream on Douyin, announcing iPhone Air would be available in mainland China on October 22, and pre-orders start this Friday, October 17. That was Cook’s debut livestream on the TikTok’s Chinese sister platform since Apple’s flagship store on-boarded Douyin Mall in August. Cook also posted the rollout date of iPhone Air on China’s social me
Apple CEO Tim Cook Appears in China's Livestream as iPhone Air to Hit the Market Next Week
Alibaba Debuts Upgraded Qwen 3 AI that It Claims to Outperform DeepSeek R1
TMTPOST -- Alibaba Group unveiled Qwen 3 on Tuesday, a next-generation upgrade of its flagship AI model featuring enhanced hybrid reasoning capabilities. Qwen3-235B-A22B, features 235 billion parameters but requires activating only 22 billion — roughly one-third the parameter size of DeepSeek-R1. This design dramatically cuts operating costs while achieving performance that surpasses leading models such as DeepSeek-R1 and OpenAI-o1, making it the most powerful open-source model available globally. The announcement comes as China’s AI landscape heats up, driven by the rapid rise of local startup DeepSeek, which earlier this year claimed to deliver high-performing models at lower costs compared to Western rivals. Baidu, China’s top search engine, also stepped up its efforts last Friday by la
Alibaba Debuts Upgraded Qwen 3 AI that It Claims to Outperform DeepSeek R1
Nvidia to Build First U.S.-Made AI Supercomputer, Partnering with TSMC and Foxconn in $500 Billio...
(Image source: TMTPost AGI Editor Lin Zhijia) AsianFin -- AI chip giant Nvidia announced late Sunday that it will manufacture its first AI supercomputer entirely in the United States, marking a major reshoring move amid growing geopolitical and trade tensions. The project will feature Nvidia’s Blackwell AI chip, which it says will become the most powerful AI chip ever produced domestically. Over the next four years, Nvidia will collaborate with TSMC, Foxconn, Wistron, Amkor, and SPIL to build up to $500 billion worth of AI infrastructure across the U.S., the company said. Blackwell chip production has already begun at TSMC’s Arizona facility. Nvidia will also break ground on its first U.S. factories, co-developing supercomputer production plants with Foxconn in Houston
Nvidia to Build First U.S.-Made AI Supercomputer, Partnering with TSMC and Foxconn in $500 Billio...
China Unveils First Open-Source Humanoid Robot Fourier N1
China's First Open-Source Verified Humanoid Robot Fourier N1 AsianFin - Fourier Robotics has launched China's first open-source, engineering-verified humanoid robot, the Fourier N1, marking a major milestone in China's robotics industry. Standing at 1.3 meters tall and weighing 38 kg, the N1 features a compact hardware design with 23 degrees of freedom (excluding dexterous hands). It achieves a top speed of 3.5 m/s, peak joint torque of 96N.m, and over two hours of continuous operation with a swappable battery. During testing, the N1 completed 1,000+ hours of outdoor trials, including navigating 15 to 20° slopes, climbing 20 cm stairs, and recovering from falls—proving its durability and adaptability. Unlike proprietary models, the N1 is fully open-
China Unveils First Open-Source Humanoid Robot Fourier N1
Trump Threatens Countries will Face Higher Tariffs if No Deal Reached, but Refuses to Rule Out Fu...
TMTPOST -- U.S. President Donald Trump on Thursday threatened the hefty reciprocal tariffs will return if countries fail to reach a deal with his administration within the 90-day period of pause, though he refused to rule out further pause on the sweeping tariffs. Credit：Xinhua News Agency “If we can’t make the deal that we want to make or we have to make or that’s, you know, good for both parties — it’s got to be good for both parties — then we go back to where we were,” Trump told reporters at a cabinet meeting on Thursday. But when asked about if that means he would not extend the pause, Trump said, “We’ll have to see what happens.” Trump replied “it’s very close” when questioned on where his administration is on striking a deal with the first foreign nation on tariffs, not s
Trump Threatens Countries will Face Higher Tariffs if No Deal Reached, but Refuses to Rule Out Fu...
US Stock Market Dives after an Epic Rally as China Repeatedly Vows to Fight to the End over Trump...
TMTPOST -- The U.S. stock market on Thursday retreated on concerns over an escalating trade war between the world’s top two economies. Credit：China Daily The S&P 500 finished nearly 3.5% lower on Thursday following a 9.5% rally a day earlier, the large-cap benchmark’s biggest gain since October 2008 and the third best day since World War II, according to FactSet. The Nasdaq Composite dived 4.3%, paring part of gains on Wednesday, in which it surged 12.2%, its largest one-day jump since January 2001 and the second best day ever. The Dow Jones Industrial Average fell 1014.79 points, or 2.5%, after the index climbed 2962.86 points, or nearly 7.9% on Wednesday. That represented a largest on-day point gain on record and its best daily performance by percentage points since March 2020. The f
US Stock Market Dives after an Epic Rally as China Repeatedly Vows to Fight to the End over Trump...
EU Suspends Retaliatory Tariffs for 90 Days to Allow US Trade Talks
TMTPOST -- The Europeans Union on Thursday decided to temporarily pause the implementation of its countermeasures for talks over possible trade deals after U.S. President Donald Trump announced the same pause on his sweeping reciprocal tariffs. Credit：Maros Sefcovic “We took note of the announcement by President Trump. We want to give negotiations a chance. While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days, ” European Commission President Ursula von der Leyen said in a statement on Thursday. Von der Leyen still cautioned U.S. higher tariffs on the EU. “If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues,” head of the
EU Suspends Retaliatory Tariffs for 90 Days to Allow US Trade Talks
US Stocks Skyrocket on Trump's 90-Day Pause on Most Reciprocal Tariffs
TMTPOST -- American stock market skyrocketed on Wednesday after U.S. President Donald Trump announced a 90-day pause on reciprocal tariffs for most of targeted countries. Credit：China Central Television The S&P 500 closed 9.5% higher, logging its best day since October 2008. The rally, which snapped a four-session streak of losses, marked the benchmark’s third biggest gain since World War II, according to FactSet. The Nasdaq Composite surged around 12.2% , registering its largest one-day jump since January 2001 and the second-best day ever. The Dow Jones Industrial Average settled 2962.86 points, or nearly 7.9%, higher. That represented a largest on-day point gain on record and its best daily performance by percentage points since March 2020. The stock market volatility came on heels o
US Stocks Skyrocket on Trump's 90-Day Pause on Most Reciprocal Tariffs
EU Members Approve First Wave of Retaliatory Tariffs, Hitting Up to 21 Billion Euros of US Imports
TMTPOST -- The European Union members on Wednesday gave the nod on the first wave of retaliation against the Trump administration’s tariffs, widening the global trade war. Credit：the European Commission EU Member States have voted in favour of the European Commission's proposal to introduce trade countermeasures against tariffs on steel and aluminum imports imposed by the United States, the Commission announced in a statement on Wednesday. The vote of approval means countermeasures will come into force once the Commission’s internal procedures are concluded, according to the EU’s executive branch. “The EU considers U.S. tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy. The EU has stated its clear preference to find negotiated outcom
EU Members Approve First Wave of Retaliatory Tariffs, Hitting Up to 21 Billion Euros of US Imports
Around 70 Countries Have Reached Out on Tariff Talks, Says U.S. Treasury Secretary
CFP TMTPOST -- U.S. Treasury Secretary Scott Bessent said on Monday that "maybe 70 countries" have approached the White House to discuss trade in recent weeks. In an interview with Fox News, Bessent expressed optimism that productive negotiations could lead to reduced tariff levels—particularly for nations that choose not to impose retaliatory measures, he told Fox News. "It is my hope that through good negotiations, tariff levels will come down for countries that don't retaliate," he said. China China will resolutely take countermeasures to safeguard its rights and interests should the United States escalate its tariff measures, the country's commerce ministry said Tuesday. “The U.S. threat to escalate tariffs on China is a mistake on top of a mistake, once again revealing its coercive ta
Around 70 Countries Have Reached Out on Tariff Talks, Says U.S. Treasury Secretary
Canada Announces 25% Retaliatory Tariffs on Certain US Cars Starting April 9
TMTPOST -- Canada announced on Tuesday it would start levy tariffs on certain U.S. cars in retaliation for the Trump administration’s sweeping auto tariffs. Credit：China Central Television Canada’s new countermeasures announced last week in response to the unjustified tariffs imposed by the United States on the Canadian auto industry will come into force at 12:01 a.m. Eastern Time on April 9, Wednesday, the Minister of Finance François-Philippe Champagne confirmed in a statement released on Tuesday. The upcoming tariffs include 25% tariffs on non- United States-Mexico-Canada Agreement (USMCA) compliant fully assembled vehicles imported into Canada from the United States, according to the statement. Those non-Canadian and non-Mexican content of USMCA compliant fully assembled vehicles impor
Canada Announces 25% Retaliatory Tariffs on Certain US Cars Starting April 9
Tech and Chip Stocks Tumble as Trump's Reciprocal Tariffs Trigger Sell-Off
(Image Source: Shutterstock US) AsianFin -- Major technology and semiconductor stocks have taken a major hit since U.S. President Donald Trump announced steep "reciprocal" tariffs against almost all trading partners. At Monday's close, U.S.-listed shares of tech titans saw sharp declines. Apple plunged 3.67%, Intel fell 1.41%, and TSMC's ADRs slipped 0.43%. In Asian markets, Taiwan's TSMC nosedived more than 9% to its daily limit, while Foxconn and MediaTek also closed at their lower limit. In Hong Kong, Lenovo tumbled 22.89% and SMIC sank over 16%. According to market data, the U.S. stock market evaporized over $6 trillion in market capitalization between April 3 and 4. The combined valuation of the "Big Seven" — Apple, Microsoft, Amazon, Tesla, Met
Tech and Chip Stocks Tumble as Trump's Reciprocal Tariffs Trigger Sell-Off
Trump Open to Negotiation though Denies Pause on Tariffs
TMTPOST -- U.S. President Donald Trump suggested he is open to negotiations even though he denies any consideration of pause on tariffs. Credit：Xinhua News Agency Trump said in the Oval Office on Monday he didn’t consider implementing a pause on reciprocal tariffs he announced last Wednesday. “Well, We’re not looking at that,” Trump replied when asked whether he was thinking about taking more time to implement the tariffs. Trump continued, “many countries that are coming to negotiate deals with us. And they’re going to be fair deals. And certain cases, they’re going to be paying substantial tariffs. They’ll be fair deals. As you know, I spoke this morning with the prime minister of Japan, and we had a very good conversation.” When asked if the overall tariffs are permanent
Trump Open to Negotiation though Denies Pause on Tariffs
Trump Dismisses EU's Offer of Zero-for-Zero Tariff on Cars and Industrial Goods
TMTPOST -- The European Union is preparing its countermeasures against U.S. Donald Trump’s new tariffs while expressing openness to negotiations to avoid transatlantic trade war. But Trump, who repeatedly claimed the bloc was formed to screw the U.S., seems not satisfy with the EU’s offer. Credit：Xinhua News Agency European Commission President Ursula von der Leyen said on Monday that the EU is ready for negotiations with the U.S. over tariffs and has offered removal of tariffs on industrial tariffs. Von der Leyen noted at a news conference in Brussels the new U.S. tariffs come at immense costs for U.S. consumers and businesses but, at the same time, they have a massive impact on the global economy. Head of the EU executive branch believes these tariffs represent a major turning poin
Trump Dismisses EU's Offer of Zero-for-Zero Tariff on Cars and Industrial Goods
China Vows to Defend Itself Till the End after Trump Threatens Extra 50% Tariffs
TMTPOST -- China on Monday didn’t indicate any compromise following U.S. President Donald Trump new threat of hefty tariffs. Credit：Phoenix New Media If the United States escalates its tariff war, China will resolutely take countermeasures to safeguard its rights and interests, said a spokesperson for Ministry of Commerce (MOFCOM) on Tuesday in a statement on the ministry’s website. The so-called "reciprocal tariffs" imposed by the United States on China are groundless and are a typical unilateral bullying practice, and all the countermeasures that China has taken aim to safeguard its sovereignty, security and development interests and maintain the normal international trade order, which is completely legitimate, the spokesperson said. China by no means accepts the latest
China Vows to Defend Itself Till the End after Trump Threatens Extra 50% Tariffs
Six Listed Firms Join Forces to Back Semiconductor Fund Led by Walden High-Tech
Image Source: Internet AsianFin -- Six publicly listed Chinese companies have announced joint participation in the Shanghai Huake Zhixin Venture Capital Partnership. These include GalaxyCore, SigmaStar, Anyka, 3PEAK, Fortior Tech, and Yanmade Tech. The fund, totaling 309 million yuan (US$ 42 million), is managed by Shanghai Walden High-Tech Private Equity Fund Management Co., Ltd. ("Walden High-Tech") and focuses on semiconductor, industrial, automotive, and renewable energy sectors. GalaxyCore is the largest contributor, investing 50 million yuan (16.18% of the fund). 3PEAK and SigmaStar each committed 30 million yuan, while PeakV and Yanmade Tech contributed 28 million and 20 million yuan respectively. Walden High-Tech, the China arm of San Francisco-based Walden International, was estab
Six Listed Firms Join Forces to Back Semiconductor Fund Led by Walden High-Tech
How Will "Reciprocal Tariffs" Affect Nearly $35 Billion in Chinese Investments Across Southeast A...
AI generated AsianFin -- The announcement of steep "reciprocal tariffs" by U.S. President Donald Trump last week has sent shockwaves through Chinese businesses operating in Southeast Asia. A veteran of the energy storage sector nicknamed Kexpressed his frustration: "Since the announcement, we've been seeing a lot of regret in the industry group chat. Those who've built factories in Cambodia and Vietnam in recent years are especially feeling the heat." And he is not alone. Trump's sweeping tariffs, which sparked intense reactions on Chinese social media, is expected to adversely impact Chinese enterprises operating factories in Southeast Asia. Meanwhile the tariffs could also lead to a reshaping of the strategies behind Chinese companies' ov
How Will "Reciprocal Tariffs" Affect Nearly $35 Billion in Chinese Investments Across Southeast A...
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