Daily Buzz: 23 February 2026

Trump Lifts New Tariff, Trade Policies in Disarray

US President Donald Trump raised his new across-the-board import tariffs to 15 percent from 10 percent, a day after imposing the lower figure in response to the US Supreme Court striking down tariffs he levied last year. Trump is using a different, never-before-used statute this time, which allows him to place tariffs up to 15 percent for 150 days without Congressional approval. He said the new tariffs will apply to all imports. The court ruled that only Congress has the right to levy tariffs under the law invoked by Trump last year, but the decision doesn't cover separate, industry-specific tariffs that Trump slapped on steel, aluminum, lumber and autos last year under a different US law. The president said the 150 days will give his administration time to explore other "legally permissible" tariffs.

The new round of tariffs leaves US trade policy ambiguous and riddled with unanswered questions. German Chancellor Friedrich Merz said the "biggest poison for the economies of Europe and the US is this constant uncertainty about tariffs." Japan called the situation "messy." India postponed talks on an interim trade deal due to resume this week. Australia, which had already negotiated a deal with a 10 percent tariff, said it is weighing "unjustified" tariffs. The UK, which also had secured a 10 percent tariff agreement, said it expects that rate to be honored.

NASA Delays Manned Lunar-Orbiting Mission

NASA postponed its scheduled March 6 launch day for its Artemis II lunar mission because of issues related to the flow of helium needed in takeoff that were spotted during routine checks. The US space agency said the mission, which will carry four astronauts in orbit around the moon for 10 days without landing, may now occur in April. The mission is a prelude to the landing of astronauts back on the lunar surface for the first time since 1972, technically scheduled for 2028.

US to Send Hospital Ship to Greenland. Does It Need One?

President Donald Trump said Saturday that he is sending a hospital boat to Greenland to take care of the many people who are sick and not being taken care of there." Greenland said no thanks. The point of the gesture is unclear since the 56,000 residents of Greenland are under the same free, national health care system as Denmark, which has controlled the Arctic territory for centuries. Trump has sought to annex Greenland for its strategic location and its mineral wealth -- a move opposed by the islanders, the Danish government and the rest of Europe.

Iran Reportedly Offers US Concessions

Iran is offering fresh concessions as nuclear talks with the US are due to resume on Thursday, Reuters reported, citing an unidentified senior Iranian official. It reported that Tehran would seriously consider sending half of its most highly enriched uranium abroad, diluting the rest and taking part in a regional enrichment consortium in return for the US lifting economic sanctions and recognizing Irean's right to nuclear enrichment for peaceful purposes. Iran is also offering openings for US energy companies to participate as contractors in Iran's large oil and gas industries. The concessions come after US President Donald Trump said he is considered a limited attack on Iran.

Separately, Iranian university students staged street protests and sit-ins on Sunday, a month after a government crackdown on nationwide demonstrations. Students said they were honoring the memory of those killed in the January protests, which were triggered by the rising cost of living.

Spring Festival Spurs a Consumer Spending Spree

The Chinese government promoted the nine-day Spring Festival holiday that celebrates the Chinese New Year as a golden opportunity to increase spending by consumers -- and spend they did. In the first four days of the holiday, which ends today, average daily sales at major retail and catering businesses rose 8.6 percent from last year's holiday, according to the Ministry of Commerce. Consumers traveled, filled shopping malls and dined out. Online retail platforms reported a 20 percent surge in sales of smart wearable devices, Xinhua reported. Domestic tourism rose, with a 26 percent jump in car-rental bookings. The buying spree was aided by the government's extension of subsidies for older goods, including automobiles, traded in for newer models. Consumer spending is a major contributor to economic growth.

China AI Firms Go Talent Hunting in US

ByteDance, Baidu and other major Chinese companies developing AI technologies have moved their rivalry into overseas talent recruitment, the South China Morning Post reported. ByteDance,

parent of TikTok and operator of the AI Doubao app and video generation Seedance 2.0 model, has posted more than 100 AI-related job vacancies posted in San Jose, California and Seattle, Washington. Baidu has advertised 10 jobs at its Sunnyside, California-based operations. Alibaba and startup MiniMax were also reportedly in recruitment mode in California. Rivalry is not only among Chinese companies but also between Chinese and US companies as both nations seek to be leaders in artificial intelligence.

China Film Box Office Surpasses North America

China has overtaken North America as the world's top-grossing film market so far this year, boosted by a strong Lunar New Year holiday box office. As of Saturday, 2026 receipts topped 7 billion yuan (US$970 million), compared with US$938 million in North America. Holiday ticket sales in China have exceeded 5 billion yuan, Xinhua news agency reported. Topping the film favorites is "Pegasus 3," the third installment of director Han Han's racing-comedy franchise. In second place is the spy thriller "Scare Out," directed by Zhang Yimou, followed by "Blades of the Guardians: Wind Rises in the Desert," a Chinese martial arts movie.

China Imports Help Drive EU Inflation Lower

Chinese imports contributed to a much lower-than-expected inflation rate in the EU, according to Fabio Panetta, a member of the European Central Bank governing council. Eurozone inflation in January fell to a 16-month low of 1.7 percent, below the bank's 2 percent target. Chinese exports, typically lower-cost goods, to the EU since the start of 2024 have surged 27 percent. Panetta warned the bank must remain vigilant about prices swinging too sharply up or down.

Ubtech Seeks Shareholder Approval for Fenglong Stake

Shenzhen-based Ubtech Robotics has called an extraordinary general meeting on March 10 to seek shareholder approval to acquire a 43 percent stake in Fenglong Electric in a share-purchase deal that could be valued at up to 1.6 billion yuan (US$230 million). Fenglong, based in Zhejiang Province, makes components for garden machinery engines, hydraulic control systems, auto parts and the battery engines. Both companies are listed on the Shenzhen stock exchange.

Dingdang Health Signals Narrower Loss

Shenzhen-based digital retail pharmacy Dingdang Health Technology advised the Hong Kong stock exchange that it expects to post a narrower loss for 2025, Trading.com reported. The company's profit was 380 million yuan (US$55 million) in the red in 2024. The company earlier this month announced changes to top management but said they weren't related to the company's financial performance. Its operations span online healthcare services and medicine distribution.