8th April 2025

China Hits Back

After President Trump threatened an additional 50% tariff on Chinese imports, China’s commerce ministry accused the US of “blackmail” and warned it would “fight to the end” if Washington continues escalating.

The latest clash follows Trump’s new 34% tariff on Chinese goods and China's matching response. Trump warned that unless China rolls back its tariff by April 8, further penalties will hit on April 9.

While markets rebounded slightly on Tuesday, Monday saw sharp losses. Japan’s Nikkei rose 6%, Hong Kong’s Hang Seng jumped 2%, and US futures edged higher.

 The EU, Taiwan, and others are also feeling the heat, with the EU proposing 25% counter-tariffs and Taiwan calling for zero-tariff deals to ease tensions.

China’s state media slammed Trump’s approach as “naked extortion,” while analysts say both nations are locked in a high-stakes game of economic chicken with global implications.

Pix has become dominant payment method in Brazil

Introduced in 2020 during COVID, Brazil’s Pix payment system quickly caught on.Thanks to its speed, simplicity, and zero cost. By 2024, it became the country's top payment method topping  both cash and cards.

Pix opened the door for digital banks like NuBank to compete with Brazil’s old guard. NuBank alone grew from 17 million users in 2019 to over 100 million in 2024, becoming one of the largest digital banks outside China.

With recurring payments, contactless options, and even QR scanning, Pix is now used for everything from utility bills to online shopping. It’s expected to surpass credit cards for e-commerce this year.

 It's free for users and far cheaper for merchants than card processing—making Pix the go-to option for businesses and consumers alike.

 Pix is fully run by Brazil’s central bank, sparking some concern over government control and data access—especially in a less democratic future.

Pix is expanding into international remittances and laying the foundation for Brazil’s own digital currency, Drex.

News written by Zhangir Meshitbek | Published by Zhangir Zhangaskin