China’s growing muscle at the UN
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 28 July 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
The European Union struck a deal to limit the rate of US tariffs, and public companies are filling their coffers with cryptocurrencies. Plus, the share of goods in total UK exports has fallen to a record low, and China is moving to fill the void left by the US at the United Nations.
Mentioned in this podcast:
US and EU strike trade deal, says Trump
Companies load up on niche crypto tokens to boost share prices
Trump left a power vacuum at the UN. China saw an opportunity
The share of goods in total UK exports has fallen to a record low
China’s Shaolin Temple says its head is facing a criminal investigation
Today’s FT News Briefing was produced by Jess Smith, Ethan Plotkin, Sonja Hutson, Katya Kumkova, and Marc Filippino. Additional help from Alex Higgins and Peter Barber. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show’s theme song is by Metaphor Music.
CREDITS: Shaolin Temple (1982)/Chung Yuen Motion Picture Company
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | For over 40 years, Equinoor has been an energy partner to the UK. |
| 0:04.1 | During that time, we've played our part in the switch from coal to gas, |
| 0:07.1 | and we're working hard to help the UK's energy transition. |
| 0:10.2 | We may not have all the answers yet, but we're determined to find them. |
| 0:13.5 | Equinor, an energy company, searching for better. |
| 0:16.9 | 99.6% of Equinor's energy output is oil and gas. |
| 0:20.5 | Our investment in renewables and low-carbon |
| 0:22.4 | solutions has increased from 4% in 2020 to 27% in 2024. Find out more at equinor.com. |
| 0:29.2 | UK. |
| 0:33.5 | Good morning from the Financial Times. Today is Monday, July 28th, and this is your FT News briefing. |
| 0:41.0 | The U.S. and the EU have a trade deal, and public companies are loading up on cryptocurrencies. |
| 0:47.9 | Plus, a U.S. rival is stepping in to fill a new void at the United Nations. |
| 0:53.2 | China is in a very good position to take advantage of these huge reforms going on. |
| 1:00.2 | I'm Jess Smith, and here's the news you need to start your day. |
| 1:19.4 | I'm Jess Smith. Markets open the week with news of yet another U.S. trade deal. |
| 1:26.3 | After weeks of difficult discussions, the leaders of the U.S. and the European Union yesterday reached an agreement. The U.S. will impose 15% tariffs on most imports |
| 1:30.5 | from the European bloc. Not only that, the EU also agreed to spend hundreds of billions of dollars |
| 1:36.3 | on additional American energy products and weapons. The deal is a victory for U.S. President |
| 1:41.4 | Donald Trump. He spent months locked in bruising negotiations with America's trading partners. |
| 1:47.1 | He'd threatened 30% tariffs on the EU if no deal had been struck by August 1st. |
| 1:58.0 | It's one of the hot trends in global markets right now. Companies issuing shares or bonds |
| 2:04.0 | in order to buy Bitcoin and other cryptocurrencies. Companies are loading up on these |
... |
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