Show us more respect

Good morning. China is open to talks if Trump shows more respect. Harvard’s battle with the Trump administration has the potential to go beyond campus. And hockey-loving Canada knows its priorities. Listen to the day’s top stories.

China wants to see a number of steps from Donald Trump’s administration before it will agree to trade talks, including showing more respect by reining in disparaging remarks by members of his cabinet, according to a person familiar. Beijing also wants the US to appoint a point person for talks. Meanwhile, China’s economy showed surprising strength in early 2025 with a sharp uptick in March, though the trade impasse has still prompted calls for stimulus.
US futures and European stocks bounced off the report China is open to negotiations. However, trade policy still weighs heavily on global technology stocks as new US restrictions on the export of Nvidia chips to China and a disappointing report from Dutch chip-equipment maker ASML fanned concerns. Trump’s administration barred Nvidia from selling its H20 chip in China, in a move that’ll cost the company $5.5 billion. ASML added to investor jitters with orders that missed expectations.

Markets will also be focused on US retail sales, which probably rose in March, driven by a rush in auto purchases ahead of Trump’s tariff announcement. Americans are already flocking to Chinese e-commerce apps like DHgate, fearing tariffs will drive up prices on homegrown platforms, while viral TikTok videos tout counterfeit luxury items. Fake Birkin, anyone?

Trump launched a probe into the need for tariffs on critical minerals. The investigation, led by the commerce secretary, will evaluate the impact of imports of these materials on America’s security and resilience. As geopolitical and trade tensions rise, these are the seven rare earth metals you need to know.

Image repair. The public perception of UnitedHealth is that it’s a faceless giant denying care to boost profits. That narrative exploded through a barrage of sinister social media posts after executive Brian Thompson was killed. Now, the largest US insurer is touting plans for fixes as Tim Noel, who took over the insurance unit after Thompson’s death, faces major challenges.

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Deep Dive:

Harvard University’s decision to stand up to Trump sparked cheers from Democratic leaders, but the resulting federal funding cuts risk imperiling Massachusetts’ primary economic engine.

The Big Take

Opinion

The attacks on science by the Trump administration risk a brain drain, Lara Williams and Mark Gongloff write. Such an exodus would have global implications and undermine one of America’s great strengths.
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Before You Go

It’s all about priorities. The first federal election debate in Canada was rescheduled to avoid a clash with a hockey game. Tonight’s face off between Mark Carney and Pierre Poilievre will now be held two hours earlier (at 6 p.m. local time), while the Montreal Canadiens’ NHL playoff qualifier will go ahead as planned. Go team!

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