The FBI is offering $10 million for information about the China-state hacking group tracked as Salt Typhoon and its intrusion last year into sensitive networks belonging to multiple US telecommunications companies.
Salt Typhoon is one of a half-dozen or more hacking groups that work on behalf of the People’s Republic of China. Intelligence agencies and private security companies have concluded the group has been behind a string of espionage attacks designed to collect vital information, in part for use in any military conflicts that may arise in the future.
The agency on Thursday published a statement offering up to $10 million, relocation assistance, and other compensation for information about Salt Typhoon. The announcement specifically sought information about the specific members of Salt Typhoon and the group's compromise of multiple US telecommunications companies last year.
© Aurich Lawson
Welcome to Edition 7.41 of the Rocket Report! NASA and its contractors at Kennedy Space Center in Florida continue building a new mobile launch tower for the Space Launch System Block 1B rocket, a taller, upgraded version of the SLS rocket being used for the agency's initial Artemis lunar missions. Workers stacked another segment of the tower a couple of weeks ago, and the structure is inching closer to its full height of 355 feet (108 meters). But this is just the start. Once the tower is fully assembled, it must be outfitted with miles of cabling, tubing, and piping and then be tested before it can support an SLS launch campaign. Last year, NASA's inspector general projected the tower won't be ready for a launch until the spring of 2029, and its costs could reach $2.7 billion. The good news, if you can call it that, is that there probably won't be an SLS Block 1B rocket that needs to use it in 2029, whether it's due to delays or cancellation.
As always, we welcome reader submissions. If you don't want to miss an issue, please subscribe using the box below (the form will not appear on AMP-enabled versions of the site). Each report will include information on small-, medium-, and heavy-lift rockets, as well as a quick look ahead at the next three launches on the calendar.
Fresh details on Astra's strategic pivot. Astra, the once high-flying rocket startup that crashed back to Earth with investors before going private last year, has unveiled new details about its $44 million contract with the Department of Defense, Space News reports. The DOD contract announced last year supports the development of Rocket 4, a two-stage, mobile launch vehicle with ambitions to deliver cargo across the globe in under an hour. While Astra's ill-fated Rocket 3 focused on launching small satellites into low-Earth orbit, Astra wants to make Rocket 4 a military utility vehicle. Rocket 4 will still be able to loft conventional satellites, but Astra's most lucrative contract for the new launch vehicle involves using the rocket for precise point-to-point delivery of up to 1,300 pounds (590 kilograms) of supplies from orbit via specialized reentry vehicles. The military has shown interest in developing a rocket-based rapid global cargo delivery system for several years, and it has a contract with SpaceX to study how the much larger Starship rocket could do a similar job.
© Photo by Pedro Pardo/AFP via Getty Images
The buried roots and stumps of an ancient forest in southern China are the charred remains of an ancient war and the burning of a capital city, according to a recent study from researchers who carbon-dated the stumps and measured charcoal and pollen in the layers of peat surrounding them.
It may not be obvious today, but there’s an ancient forest hidden beneath the farmland of southern China’s Pearl River Delta. Spread across 2,000 square kilometers are thick layers of waterlogged peat, now covered by agriculture. It’s all that is left of what used to be a thriving wetland ecosystem, home to forests of Chinese swamp cypress along with elephants, tigers, crocodiles, and tropical birds. But the peat hides the buried, preserved stumps and roots of cypress trees; some of the largest stumps are almost 2 meters wide, and many have burn marks on their tops.
“These peat layers are locally known as ‘buried ancient forest,’ because many buried trees appear fresh and most stumps are found still standing,” writes Ning Wang of the Chinese Academy of Scientists, who along with colleagues, authored the recent paper. It turns out that the eerie buried forest is the last echo of the Han army’s invasion during a war about 2,100 years ago.
© Daderot
Donald Trump has started signaling that he's ready to slash tariffs on Chinese imports, but economists have warned that the US softening its stance now likely cedes power to China, which perhaps benefits from dragging out trade talks.
On Tuesday, Trump confirmed that he is willing to reduce 145 percent tariffs on all Chinese imports. A senior White House official told The Wall Street Journal that the tariffs may come "down to between roughly 50 percent and 65 percent." Or perhaps the US may use a tiered approach, charging a 35 percent tax on goods that don't threaten national security, while requiring 100 percent tariffs on imports "deemed as strategic to America’s interest," other insiders told the WSJ.
For now, Trump is being vague, only confirming that tariffs "won't be that high" or "anywhere near" 145 percent. Attempting to maintain a tough veneer, Trump warned that China must act quickly to make a deal to end the trade war or else risk making concessions that China may not consider ideal.
© Anna Moneymaker / Staff | Getty Images News
The semiconductor industry is bracing to potentially lose more than $1 billion once Donald Trump announces chip tariffs.
Two sources familiar with discussions between chipmakers and lawmakers last week told Reuters that Applied Materials, Lam Research, and KLA—three of the largest US chip equipment makers—could each lose about "$350 million over a year related to the tariffs." That adds up to likely more than $1 billion in losses between the three, and smaller firms will likely face similarly spiked costs, estimating losses in the tens of millions.
Some chipmakers are already feeling the pain of Trump's trade war, despite a 90-day pause on reciprocal tariffs and a tenuous exception for semiconductors and other electronics.
© William_Potter | iStock / Getty Images Plus
Despite a recent pause on some tariffs, Apple remains in a particularly thorny spot as Donald Trump's trade war spikes costs in the tech company's iPhone manufacturing hub, China.
Analysts predict that Apple has no clear short-term options to shake up its supply chain to avoid tariffs entirely, and even if Trump grants Apple an exemption, iPhone prices may increase not just in the US but globally.
The US Trade Representative, which has previously granted Apple an exemption on a particular product, did not respond to Ars' request to comment on whether any requests for exemptions have been submitted in 2025.
© tang90246 | iStock Editorial / Getty Images Plus
Later today, a former Facebook employee, Sarah Wynn-Williams, will testify to Congress that Meta executives "repeatedly" sought to "undermine US national security and betray American values" in "secret" efforts to "win favor with Beijing and build an $18 billion dollar business in China."
In her prepared remarks, which will be delivered at a Senate subcommittee on crime and counterterrorism hearing this afternoon, Wynn-Williams accused Meta of working "hand in glove" with the Chinese Communist Party (CCP). That partnership allegedly included efforts to "construct and test custom-built censorship tools that silenced and censored their critics" as well as provide the CCP with "access to Meta user data—including that of Americans."
Wynn-Williams worked as Facebook's Director of Global Public Policy from 2011 to 2017. She left at the height of the Cambridge Analytica scandal, just before Mark Zuckerberg got grilled by Congress over misinformation and election interference on its platform.
© Bloomberg / Contributor | Bloomberg
Chip Somodevilla, Wagner Meier/Getty Images
China imposed 84% tariffs on US imports and Europe made its first move on Wednesday as the global trade war escalated.
The measures follow President Donald Trump's sweeping tariffs against trade partners, including imposing cumulative 104% charges on Chinese goods.
Beijing retaliated after the US tariffs took effect on Wednesday. Its charges will be imposed from Thursday, a government statement said.
"China urges the US to immediately correct its wrong practices, cancel all unilateral tariff measures against China, and properly resolve differences with China through equal dialogue on the basis of mutual respect," the statement said.
The announcement pushed European stock markets lower, but the S&P 500 posted early gains.
The European Union announced its first retaliatory tariffs after the US imposed 25% levies on EU steel and aluminum exports last month.
The tariffs on US goods worth about $23 billion will take effect this month and target products such as soybeans, diamonds, and poultry.
Zhiwei Zhang, chief economist at Pinpoint Asset Management, said China had sent a "clear signal" that it intended to maintain its stance despite the higher US tariffs.
"China can afford to wait. I don't expect a quick and easy way out from the current trade conflict," Zhang said. "The damage to the two economies will become visible soon. The outlook for international trade and global economic growth is highly uncertain."
On Tuesday, Trump wrote on Truth Social: "China also wants to make a deal, badly, but they don't know how to get it started. We are waiting for their call."
Treasury Secretary Scott Bessent told Fox Business on Wednesday that China's reluctance to negotiate was "unfortunate" and said it had the "most imbalanced economy in the history of the modern world."
Beijing vowed on Tuesday to "fight to the end."
"Judging from its actions, the US doesn't seem to be serious about having talks right now," said Lin Jian, a Chinese foreign ministry spokesperson.
"If the US truly wants to talk, it should let people see that they're ready to treat others with equality, respect and mutual benefit."
Analysts are bracing for a long standoff between the two mega economies.
"We see a narrow path to resolution for the ongoing tariff gridlock between the US and China as well," wrote Yeap Jun Rong, a market strategist at IG.
"Even if negotiations resume in the future, reaching a consensus may prove difficult, suggesting that trade tensions could persist for an extended period."
Marc Rowan, the CEO of Apollo, told CNBC he expected the Trump administration to reach agreements on tariffs with the "vast majority" of trading partners.
Don Emmert /AFP/GettyImages
US Treasury bond prices have cratered, and yields have spiked sharply in recent days as fears mount about the longer-term impacts of President Donald Trump's escalating trade war around the world.
The yield on the 10-year US Treasury bond has risen around 12% since Monday, briefly climbing above 4.5% by early Wednesday morning. The five-year US Treasury yield has risen 13% in the same time, hitting 4%.
Bonds are loans that investors make to an entity such as a company or government, usually in exchange for interest payments on a set schedule, with the initial investment returned at maturity as well.
Bond yields and prices move inversely, with yields rising and prices falling in times of trouble, reflecting increased risk for investors.
US bonds are traditionally considered to be among the safest of safe-haven assets as the likelihood of a failed repayment by the US government is seen as incredibly unlikely. Investors rushing to sell them off is unusual and generally seen as a sign of market distress.
ANGELA WEISS/AFP via Getty Images
Investors selling US bonds come amid worries that President Donald Trump's new tariffs, which came into effect on Wednesday, may lead to rising inflation and increase the chance of a recession.
This, in turn, would likely slow or even halt expected interest rate cuts from the Federal Reserve.
Analysts at Deutsche Bank said in a note on Tuesday that the heavy sell-off "spoke to broader concerns about the safety of US assets and their capacity to act as a haven in times of market stress."
There's also market speculation that some of the sell-off may be down to China getting rid of some of its $761 billion US Treasury holdings. In an executive order on Tuesday, Trump raised tariffs on China to 104%.
Lin Jian, Beijing's foreign affairs spokesperson, accused the US of "bullying practices" on Wednesday, soon before China announced retaliatory tariffs of 84% on US goods.
"A trend which will be watched closely is an apparent loss, whether temporary or otherwise, of US assets' safe-haven status. Treasurys sold off heavily amid some speculation China and other parties are dumping their holdings as a retaliatory tool," said Russ Mould of UK-based investment platform AJ Bell.
The sell-off in Treasurys has also influenced global bond markets, with UK and Japanese yields climbing since Monday.
George Saravelos, Deutsche Bank's head of FX research, told clients in a note this week that continuing disruption could push the Federal Reserve to buy US bonds to support the market.
Should disruption continue, there would be "no other option for the Fed but to step in with emergency purchases of US Treasurys to stabilize the bond market," Saravelos' team wrote.
"While we suspect the Fed could be successful in stabilizing the market in the short-term, we would argue there is only one thing that can stabilize some of the more medium-term financial market shifts that have been unleashed: a reversal in the policies of the Trump administration itself."
Board game designer and entrepreneur Jamey Stegmaier has published hit games like Scythe and Wingspan—the latter a personal favorite of mine, with a delightfully gentle theme about birds—but this week found him in a gloomy mood.
"Last night I tried to work on a new game I'm brainstorming," he wrote in a blog post yesterday, "but it’s really hard to create something for the future when that future looks so grim. I mostly just found myself staring blankly at the enormity of the newly announced 54 percent tariff on goods manufactured in China and imported to the US."
Most US board games are made in China, though Germany (the home of modern hobby board gaming) also has manufacturing facilities. While printed content, such as card games, can be manufactured in the US, it's far harder to find anyone who can make intricate board pieces like bespoke wooden bits and custom dice. And if you can, the price is often astronomical. "I recall getting quoted a cost of $10 for just a standard empty box from a company in the US that specializes in making boxes," Stegmaier noted—though a complete game can be produced and boxed in China for that same amount.
Dan Kitwood/Getty
Adtech company AppLovin has submitted a last-minute bid to acquire TikTok's operations outside China, joining a crowded list of suitors a day before a US TikTok ban is set to take effect.
AppLovin confirmed it submitted a preliminary "indication of interest" to President Donald Trump in a Thursday SEC filing.
The company, which helps developers market and advertise their apps, said in the filing that "there can be no assurance" that a transaction involving TikTok would proceed.
It's unclear exactly how AppLovin would finance or structure a deal, given TikTok's vast scale. TikTok's US operations are estimated to have a sale value of $40 billion to $50 billion.
Wedbush analyst Dan Ives has previously suggested TikTok's global valuation could exceed $100 billion, potentially reaching $200 billion if its algorithm is included in the calculation. AppLovin has a market capitalization of just over $89 billion.
The bid places AppLovin among a growing list of late-stage suitors vying for TikTok as US lawmakers push for the app's separation from its Chinese parent company, ByteDance.
This week, Amazon put in a last-minute bid to buy TikTok, The New York Times reported. And on Wednesday, Reuters reported that a consortium led by OnlyFans founder Tim Stokely had submitted an intent to bid on TikTok.
They add to a flurry of other names that have been linked to buying TikTok.
Oracle has emerged as a leading contender, according to multiple reports, with a deal reportedly involving oversight of TikTok's US user data.
The YouTuber MrBeast said in January that he was part of a group making an all-cash offer for TikTok's US operations.
Other parties linked to a TikTok deal include Microsoft, Walmart, video-sharing platform Rumble, and AI startup Perplexity.
TikTok's future in the US has been uncertain since April 2024, when Congress mandated ByteDance divest TikTok's US business or face a nationwide ban. After taking office in January, Trump extended that deadline by 75 days.
The White House has been directly involved in deal talks as national security concerns remain central to negotiations.
On Wednesday, Trump introduced an effective 54% tariff rate on Chinese imports. The president told reporters on Air Force One on Thursday it gives the US "great power" to negotiate and a potential bargaining chip in a TikTok deal. On Friday, China announced a 34% tariff on all products imported from the US.
Win McNamee via Getty Images; Anthony Kwan/AFP via Getty Images
President Donald Trump's sweeping tariffs are expected to cut deep against both friend and foe, but several of the nations that stand to suffer the most are right on China's doorstep.
Cambodia, Laos, and Myanmar are on track to face tariff rates of 49%, 48%, and 45%, respectively.
All three have maintained close economic and political ties with China. Only Lesotho, Madagascar, and Vietnam, which the US is targeting with rates of 50%, 47%, and 46%, have to deal with a higher or equal level of import taxes.
China itself must contend with a total US tariff rate of 54% — the highest out of anywhere in the world. But China's response was swift: On Friday, Beijing retaliated against Trump's tariffs with a 34% tariff on all goods imported from the US.
Analysts and researchers who study the area told Business Insider the tariffs will likely push China's allies closer to Beijing, giving Chinese leader Xi Jinping an opportunity to strengthen his hold on a region that his country greatly values.
"Strategically, the US is now handing a victory to China in the US-China competition," said Vina Nadjibulla, the vice president of research and strategy at the Asia Pacific Foundation of Canada.
"If the US is preoccupied with competing with China, it is ceding ground and losing influence by essentially making China the only possible alternative for many of these economies," she added.
The White House, US Treasury Department, and US State Department did not respond to requests for comment from BI for this story.
Some analysts think it's unlikely that close relationships with China had anything to do with the tariffs.
"Traditional US allies such as the European Union, Japan, South Korea, and even Australia were all subject to these tariffs," said Baogang He, a professor of international relations at Deakin University in Melbourne, Australia.
Trump's rates appear to be tied to US trade deficits with each country, though the president has characterized the tariffs as reciprocal to taxes imposed by those nations.
"The rates are all about trade deficits," said Emily Kilcrease, a senior fellow who studies the US-China relationship for the Center for a New American Security.
Cambodia's export surplus to the US is worth $12.34 billion, Laos' is worth $760 million, and Myanmar's is worth $580 million.
On the other hand, Ian Bremmer, the founder and president of Eurasia Group, said at the World Economic Forum in January that he foresaw Trump targeting China through third-party countries that Beijing is using to manufacture goods to be shipped to the US.
"The only way the Chinese economy is succeeding right now is through their $1 trillion export surplus," Bremmer said at the time. "And so you see Trump and his team focusing a lot on Mexico, and India, and Vietnam. The other conversations they are having bilaterally, one of the top priorities is: squeeze China coming in. That's very hard for China to respond to."
Bremmer told BI on Thursday that he stands by his earlier comments.
"Absolutely. And the Chinese government has felt the same way about the United States pushing Mexico hard on getting Chinese pass-through trade out of the economy," Bremmer said.
Countries such as Mexico, Cambodia, and Vietnam have been key players in a manufacturing network known as "China+1," which emerged in response to Trump's restrictions on Chinese exports during his first administration.
To circumvent those measures, Chinese firms diversified their supply chains by sending raw materials to friendly countries and having the host nations manufacture products instead. The goods could then be exported to the US at lower costs.
Trump's tariffs will likely stifle China+1 among Beijing's close allies.
Cambodia, for example, relies largely on China+1 for its exports of clothing, sporting goods, luggage, and other products.
"Cambodia has no raw materials. All the raw materials, the supplies have to come from mainly China, even buttons or threads," said Mu Sochua, a former Cambodian minister who works in exile due to her criticism of the incumbent government.
"In a week from now, if Cambodia cannot negotiate to have the tariffs go down significantly, there will be an immediate economic crisis," she added. She added that if factories there shut down or pause production, over a million factory workers could lose their livelihoods.
Vietnam, a major base for making Chinese-partnered goods, is likely to try negotiating its 46% tariff with the US. Hanoi has asked Washington to pause the taxes and come to the table, and Trump has said he is open to discussion on his tariffs.
Vietnam balances its ties more evenly with the US and China, and its relationship with Beijing suffers from disputes over the South China Sea.
Laos, Cambodia, and Myanmar are far deeper in China's camp.
China works closely with Myanmar's ruling junta and opposing rebel factions to maintain access to vast rare earth mineral reserves in the country's north. Myanmar is also a geographical barrier between southern China and the Indian Ocean.
The Trump administration has shown little interest in extending influence over Myanmar. The US was absent from the list of parties sending aid to the country after a devastating earthquake struck Myanmar on March 28.
Meanwhile, Cambodia's southern coast hosts a naval base built by China — an important facility that would extend Beijing's reach into Southeast Asia and on Taiwan's flank.
Cambodia's long-ruling and iron-fisted prime minister, Hun Sen, also enjoys close personal ties with Beijing. The country's foreign ministry did not respond to a request for comment from BI.
Kilcrease of CNAS said the incentives for China's allies to look to Beijing are already shaping up on paper.
"We did some back-of-the-envelope math, and it appears that most countries in the world now face a higher tariff rate from the US than from China," she said. "So, yes, there is a significant risk that these countries move closer to China."
Beijing is also generally well-received in Southeast Asia, said Kristina Fong, a lead researcher on the region's economic affairs at Singapore's ISEAS-Yusof Ishak Institute.
She cited a study of attitudes among over 2,000 Southeast Asians conducted by her institute in early 2025.
"56.4% of Southeast Asian respondents cited China as Southeast Asia's most influential economic power. China was the choice for all ASEAN countries," Fong said.
In the interim, the ball is in Beijing's court, said Austin Strange, an associate professor at the University of Hong Kong's Department of Politics and Public Administration.
"China's government, at least in the short term, can make public relations gains — just as in other areas of foreign policy, such as international development — by presenting itself as a stable, reliable partner amid US foreign policy upheaval," he said.
Beijing's state media reported last weekend that its authorities agreed with South Korea and Japan to issue a joint response to any US tariffs. However, Tokyo has said its leaders simply met to share views. Seoul said reports of a team-up were "somewhat exaggerated."
"But I expect China and other economies to continue to find workarounds," Strange added. "They have, after all, had months if not longer to prepare, as Trump has consistently pledged to levy sweeping tariffs."
Adriano Machado/REUTERS
China announced its own levies on US imports on Friday following President Donald Trump's tariffs decision.
Beijing will start charging a 34% tariff on all US imports from April 10, the official Xinhua news agency said on Friday.
That matches the 34% tariffs against China that Trump announced on Wednesday. They come on top of 20% levies against the country since he took office in January, bringing the total to 54%.
The announcement triggered further falls on stock markets, with Europe's STOXX 600 tumbling 4.5% in early afternoon trading. Dow Jones futures shed about 2.6% at 7 a.m. ET, indicating a fall at the open of about 1,100 points.
A statement from China's Office of the Tariff Commission of the State Council hit out at the "reciprocal tariffs" being imposed on Chinese goods exported to the US.
"The US practice is inconsistent with international trade rules, seriously undermines China's legitimate rights and interests, and is a typical unilateral bullying practice that not only undermines the interests of the United States itself, but also endangers global economic development and the stability of the production and supply chain," it read.
Guo Jiakun, a Chinese foreign ministry spokesperson, said on Thursday that the US move "gravely violates WTO rules, and undermines the rules-based multilateral trading system."
China had retaliated against earlier tariffs from Trump in recent months.
In February, Beijing retaliated against a 10% tariff Trump put on all Chinese goods. At the time, China's Ministry of Finance said the country would impose a 15% tariff on coal and liquefied natural gas and a 10% tariff on crude oil, agricultural machinery, and some vehicles.
In March, China hit back swiftly again after Trump doubled tariffs against the country to 20%. This time, Beijing targeted American agriculture, announcing 10% tariffs on US soybeans, pork, and beef imports and 15% tariffs on chicken and cotton imports.
Analysts had signaled more measures from China were likely after Trump's Wednesday announcement.
"Retaliation will likely follow a phased progression, leaving stronger actions in reserve for further escalation while also maintaining space for possible negotiations," Eurasia Group analysts in a Thursday note.
"However, each round of escalation and retaliation increases the likelihood of a breakdown in bilateral ties this year."
AP Photo/Ted Shaffrey
Apple has suffered its biggest one-day drop in five years after Donald Trump's "Liberation Day" tariffs sparked a roughly $300 billion sell-off among investors panicking over their potential impact on the world's most valuable company.
The iPhone maker suffered a roughly 9% drop at market close on Thursday as investors digested the impact of the president's tariff plans, which included a 54% effective tariff rate on China, the central hub for Apple's vast supply chain operations.
Trump slapped China with a 34% tariff in addition to an existing 20% tariff — a move that threatens to raise the cost of imports from Apple's most important manufacturing and assembly base.
Apple's yearslong efforts to diversify its supply chain away from China were also squashed by Trump's plans. Fast-growing hubs in Apple's supply chain, including India, Thailand, Malaysia, and Vietnam, were hit with tariffs well above Trump's 10% global baseline rate.
Though Apple secured an exemption from the tariffs Trump imposed in his first term, there are no signs yet that Apple will be able to secure a similar exemption this time. Apple's market capitalization fell to $3 trillion, wiping almost nine months of gains.
Trump's tariffs add further woes to Apple, which has faced a difficult few months as investor concerns over iPhone sales and future bets such as Apple Intelligence and the Vision Pro have weighed on its stock. Shares are down more than 16% year-to-date.
The tariff plans have raised concerns among analysts about the potential hit to consumer demand for iPhones, iPads, MacBooks, and other Apple products if the company decides to raise prices to counter the spiraling costs it would face from tariffs.
Srini Pajjuri, an analyst at investment bank Raymond James, wrote in a research note published Thursday that Apple would "need to raise US hardware prices by about 30%, all else equal," to fully offset the tariff impact on earnings per share.
If the company chooses not to raise prices, analysts forecast a significant hit to its profit margins, which have long been prized by investors.
Apple was not the only tech company whose shares took a hit on Thursday, with Nvidia down about 7.8% and Tesla down about 5.5%.
The Dow Jones Index closed down nearly 4%, while the S&P was down over 4.8%.
Apple did not immediately respond to Business Insider's request for comment.
Login