• China has quietly zeroed out tariffs on certain U.S.-made semiconductors—likely to protect its own chipmakers from economic blowback.
• The hush-hush “whitelist” lets Beijing ease pressure on its own industries while publicly holding a hard line against Trump’s 145% tariffs.
• Beijing’s playing a nuanced game—piling pressure in some areas (like Boeing and soybeans) while quietly carving out lifelines in others.