Visiting Prime Minister Keir Starmer said on Friday that Britain has a “huge amount to offer” China, after his bid to forge closer ties prompted warnings from US President Donald Trump.The first visit to China by a British prime minister in eight years, Starmer’s trip follows in the footsteps of other Western leaders looking to counter an increasingly volatile United States.Leaders from France, Canada and Finland have flocked to Beijing in recent weeks, recoiling from Trump’s bid to seize Greenland and tariff threats against NATO allies.Trump warned on Thursday it was “very dangerous” for Britain to be dealing with China.Asked about the comments on Friday, Beijing’s foreign ministry said that “China is willing to strengthen cooperation with all countries in the spirit of mutual benefit and win-win results”.Starmer met top Chinese leaders, including President Xi Jinping and Premier Li Qiang on Thursday, with both sides highlighting the need for closer ties.On Friday, Starmer told business representatives from Britain and China that both sides had “warmly engaged” and “made some real progress”.”The UK has got a huge amount to offer,” he said in a short speech at the UK-China Business Forum at the Bank of China.The meetings the previous day provided “just the level of engagement that we hoped for”, Starmer said.He signed a series of agreements on Thursday, with Downing Street announcing Beijing had agreed to visa-free travel for British citizens visiting China for under 30 days.But when asked for confirmation on Friday, the Chinese foreign ministry only said it was “actively considering” the visa deal and would “make it public at an appropriate time upon completing the necessary procedures”.Starmer hailed the agreements as “symbolic of what we’re doing with the relationship”.From Beijing he travelled to economic powerhouse Shanghai, where he spoke with Chinese students at the Shanghai International College of Fashion and Innovation, a joint institute between Donghua University and the University of Edinburgh.Starmer will continue his Asia trip with a brief stop in Japan on Saturday to meet Prime Minister Sanae Takaichi.- Visas and whisky -The visa deal could bring Britain in line with about 50 other countries granted visa-free travel, including France, Germany, Australia and Japan, and follows a similar agreement made between China and Canada this month.The agreements signed included cooperation on targeting supply chains used by migrant smugglers, as well as on British exports to China, health and strengthening a bilateral trade commission.China also agreed to reduce tariffs on British whisky to five percent, down from 10 percent, according to Downing Street.Xi told Starmer on Thursday that their countries should strengthen dialogue and cooperation in the context of a “complex and intertwined” international situation. Relations between China and the UK deteriorated from 2020 when Beijing imposed a national security law on Hong Kong and cracked down on pro-democracy activists in the former British colony.However, China — the world’s second-largest economy — remains Britain’s third-largest trading partner, and Starmer is hoping deals with Beijing will help fulfil his primary goal of boosting UK economic growth.British pharmaceutical group AstraZeneca said Thursday that it would invest $15 billion in China through 2030 to expand its medicines manufacturing and research.Its chief executive Pascal Soriot, part of a delegation of around 60 business leaders accompanying Starmer, said “China… has become a critical contributor to scientific innovation, advanced manufacturing, and global public health.”

Panama’s Supreme Court annulled on Thursday the concession allowing Hong Kong-based CK Hutchison to operate ports at the Panama Canal, a ruling that undermines Chinese sway over the waterway.As Beijing and Washington vie for global influence, container ports have become a prized currency — especially those situated in geopolitically strategic locations such as the Panama Canal. Just days into US President Donald Trump’s second term, he threatened to take back the canal — built by the United States and handed to Panama in 1999 — claiming Beijing was effectively “operating” it.Panama has rejected the claim that China had de facto control over the canal, which handles 40 percent of US container traffic, while taking actions to appease Trump.The firm has sought to sell its Panama Canal ports to a consortium led by US asset manager BlackRock. The status of that proposal is unclear following the court ruling.On Thursday the Supreme Court found the laws which allowed CK Hutchison Holdings to operate two of the five ports of the canal “unconstitutional,” according to a court statement.The CK Hutchison subsidiary concerned by the ruling rejected the judgement, saying that it “lacks legal basis”.The ruling “jeopardizes not only PPC (Panama Ports Company) and its contract, but also the well-being and stability of thousands of Panamanian families who depend directly and indirectly on port activity,” it said.Beijing, meanwhile, on Friday vowed to “take all necessary measures to resolutely safeguard the legitimate rights and interests of Chinese companies”.Hong Kong’s government also rejected the decision.The United States and China are the canal’s top users, with around five percent of global maritime trade transiting from there.Panama Ports Company — a CK Hutchison Holdings subsidiary — manages the ports of Cristobal on the canal’s Atlantic entrance and Balboa on the Pacific side.The concession was automatically renewed in 2021 for another 25 years.- Proposed sale status unclear -The lawsuit to cancel the concession was brought before the Panamanian high court last year on allegations that it was based on unconstitutional laws and that the Hong Kong business was not paying taxes.CK Hutchison Holdings is one of Hong Kong’s largest conglomerates, spanning finance, retail, infrastructure, telecoms and logistics.Shares in CK Hutchison declined more than 4 percent on the Hong Kong stock exchange on Friday.Chinese state media has previously slammed the proposed sale to BlackRock, while Beijing has warned parties involved to exercise “caution”, warning of legal consequences should they proceed without their clearance.In April, the Panamanian Comptroller’s Office accused the firm of allegedly failing to pay the state $1.2 billion from its operations, according to an audit by the agency in charge of overseeing public spending.Panama has been trying to avoid being dragged into what President Jose Raul Mulino last year called a “geopolitical conflict.”Mulino has insisted the canal’s neutrality is intact and has urged Washington not to entangle Panama in its rivalry with Beijing. Still, Panama has taken steps to ease the pressure from Washington.Last year it withdrew from China’s Belt and Road Initiative, and earlier this month it announced new joint US-Panama canal defense drills — the fourth since 2025 — aimed at boosting readiness around the 50‑mile (80‑kilometre) trade route.The canal has become a recurring flashpoint as Trump pursues what he calls the updated “Donroe Doctrine,” asserting expanded US authority in the Western Hemisphere.In his inauguration address, the US president said: “We didn’t give it to China, we gave it to Panama. And we’re taking it back.”At the same time, Beijing has sharply criticized moves against its assets in Panama, including the demolition late last year of a monument honoring Chinese workers who helped build the canal and the 19th‑century railway that preceded it.

Asian stocks took a hit on Friday amid fresh worries over vast investments in artificial intelligence, gold and silver tumbled after hitting multiple record highs, and oil retreated on hopes for an easing of US-Iran tensions.Markets have endured a rollercoaster ride this week as traders weathered a weaker dollar, Donald Trump’s threats against Tehran, a resumption of tariff warnings and a possible US government shutdown.Fresh optimism in the tech sector about the future of AI has provided support, however, with healthy earnings from companies including Meta, Samsung and SK hynix providing much cheer.However, the positivity took a hit on Thursday after Microsoft announced a surge in spending on AI infrastructure and revived concerns that companies could take some time before seeing a return on their investments.There are also fears that firms’ valuations may be a little too stretched and markets could be in a bubble, having soared in recent years to record highs on the back of a tech-fuelled rally.”Microsoft suffered its worst session since the COVID‑era crash, falling 12 percent and accounting for over two‑thirds of the S&P 500’s decline,” wrote National Australia Bank’s Rodrigo Catril.”Concerns centred on rising investment spending, slower Azure (cloud service) growth, and a longer runway to monetising AI.”- Trump Fed pick -Wall Street ended mostly in the red, with Dow the only advancer.Asia also struggled amid speculation Trump will pick Kevin Warsh, a former Fed governor and a man considered more hawkish on interest rates, as the next boss of the central bank. The president has said he will name a successor to Jerome Powell on Friday morning US time.Hong Kong, Shanghai, Tokyo, Sydney, Singapore, Taipei and Bangkok were all down. Seoul, Manila and Wellington rose.Paris was flat as data showed France’s economy grew slower last year than 2024. London opened lower but Frankfurt rose.Jakarta rose after a two-day rout sparked by index compiler MSCI calling on regulators to look into ownership concerns.The compiler said: “If insufficient progress is made towards achieving necessary transparency enhancements by May 2026, MSCI will reassess Indonesia’s market accessibility status.”It warned this could result in “a weighting reduction in MSCI Emerging Markets Indexes for all Indonesian securities and a potential reclassification of Indonesia from Emerging Market to Frontier Market status”.Gold was also in retreat, sitting around $5,150 an ounce, a day after topping out above $5,595. Silver was at $106 from a peak of more than $121.The precious metals were also weighed by a slight uptick in the dollar, having tumbled on Trump appearing to be happy to see the world’s reserve currency weaken despite the potential risk of pushing up US inflation.Investors are keeping tabs on developments in the Middle East after the US president sent an “armada” to the region and warned Iran of possible strikes if it did not reach a fresh nuclear deal.Both main contracts were down more than one percent, having spiked as much as five percent Thursday.Still, concerns remain about a conflict in the crude-rich region, which would send prices soaring, also putting upward pressure on inflation.In Washington, the US Senate edged closer to a vote on a funding deal to avert a government shutdown following a bitter standoff over Trump’s sweeping immigration crackdown.Current government funding lapses at midnight on Friday.- Key figures at around 0815 GMT -Tokyo – Nikkei 225: DOWN 0.1 percent at 53,322.85 (close)Hong Kong – Hang Seng Index: DOWN 2.1 percent at 27,387.11 (close)Shanghai – Composite: DOWN 1.0 percent at 4,117.95 (close)London – FTSE 100: DOWN 0.2 percent at 10,150.97 West Texas Intermediate: DOWN 1.7 percent at $64.32 per barrelBrent North Sea Crude: DOWN 1.6 percent at $68.50 per barrelEuro/dollar: DOWN at $1.1940 from $1.1962 on ThursdayPound/dollar: DOWN at $1.3781 from $1.3800Dollar/yen: UP at 153.74 yen from 153.04 yenEuro/pound: DOWN at 86.63 pence from 86.67 penceNew York – Dow: UP 0.1 percent at 49,071.56 (close)