How Trump’s trade policy is handing Asia to Beijing
Published . Updated .
Usually, U.S. statecraft is designed to help American companies succeed abroad. President Donald Trump’s trade program is having the reverse effect.
Directly affected
- No company is named in this report.
Indirectly affected
- KWEB KraneShares CSI China Internet ETF-4.6% 30d
KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “beijing” (Chinese tech) in this story.
- SMH VanEck Semiconductor ETF-12.3% 30d
VanEck Semiconductor ETF: it holds chipmakers. Linked by “beijing” (semiconductors) in this story.
- XRT SPDR S&P Retail ETF
SPDR S&P Retail ETF: it holds retailers. Linked by “beijing” (retail and consumer goods) in this story.
- AAXJ iShares MSCI All Country Asia ex Japan ETF-5.9% 15d
iShares MSCI All Country Asia ex Japan ETF holds stocks listed in Asia, which this story is about (“asia”).
- FXI iShares China Large-Cap ETF-5.0% 30d
iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“beijing”).
- BABA Alibaba Group Holding-8.3% 16d
Alibaba Group Holding (business services, with business in China): Chinese tech names move with Beijing policy and US-China relations. Linked by “beijing” (Chinese tech) in this story.
- JD JD.com+0.0% 7d
JD.com (retail stores, with business in China): Chinese tech names move with Beijing policy and US-China relations. Linked by “beijing” (Chinese tech) in this story.
- BIDU Baidu-11.4% 30d
Baidu (computer programming, data processing, etc., with business in China): Chinese tech names move with Beijing policy and US-China relations. Linked by “beijing” (Chinese tech) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| KWEB | -0.98% | -2.38% | base | after close | after close | after close | after close |
| SMH | +9.78% | +10.54% | base | after close | after close | after close | after close |
| XRT | -3.55% | -1.68% | base | after close | after close | after close | after close |
| AAXJ | +2.41% | +2.89% | base | after close | after close | after close | after close |
| FXI | -2.20% | -1.54% | base | after close | after close | after close | after close |
| BABA | -1.29% | -1.96% | base | after close | after close | after close | after close |
| JDNo price data for this ticker | — | — | — | — | — | — | — |
| BIDU | +1.75% | +2.26% | base | after close | after close | after close | after close |
Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.
Market Call
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How Trump’s trade policy is handing Asia to Beijing Fortune
Source: Fortune
Price since this story was published: Kraneshares Csi China Internet Etf (KWEB)
| Company | When | Move | Status |
|---|---|---|---|
| Ishares Msci Asia Ex-Japan (AAXJ) | three days earlier | +2.89% | final price |
| Ishares Msci Asia Ex-Japan (AAXJ) | five days earlier | +2.41% | final price |
| Alibaba Group Holding (BABA) | three days earlier | -1.96% | final price |
| Alibaba Group Holding (BABA) | five days earlier | -1.29% | final price |
| Baidu (BIDU) | three days earlier | +2.26% | final price |
| Baidu (BIDU) | five days earlier | +1.75% | final price |
| Ishares China Large-Cap Etf (FXI) | three days earlier | -1.54% | final price |
| Ishares China Large-Cap Etf (FXI) | five days earlier | -2.20% | final price |
| Kraneshares Csi China Internet Etf (KWEB) | three days earlier | -2.38% | final price |
| Kraneshares Csi China Internet Etf (KWEB) | five days earlier | -0.98% | final price |
| Vaneck Etf Trust (SMH) | three days earlier | +10.54% | final price |
| Vaneck Etf Trust (SMH) | five days earlier | +9.78% | final price |
| Spdr Series Trust (XRT) | three days earlier | -1.68% | final price |
| Spdr Series Trust (XRT) | five days earlier | -3.55% | final price |
Members of Congress who traded Kraneshares Csi China Internet Etf (KWEB) near this story
Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).
Who is named in “How Trump’s trade policy is handing Asia to Beijing”
Companies carried with this story
- KWEB Kraneshares Csi China Internet Etf
Kraneshares Csi China Internet Etf (KWEB) is linked, with no stored direction, medium confidence in the 2 Nov 2026 story “How Trump’s trade policy is handing Asia to Beijing.” Reason on file: KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “beijing” (Chinese tech) in this story
- SMH Vaneck Etf Trust
Vaneck Etf Trust (SMH) is linked, with no stored direction, medium confidence in the 2 Nov 2026 story “How Trump’s trade policy is handing Asia to Beijing.” Reason on file: VanEck Semiconductor ETF: it holds chipmakers. Linked by “beijing” (semiconductors) in this story
- XRT Spdr Series Trust
For “How Trump’s trade policy is handing Asia to Beijing,” Spdr Series Trust (XRT) is linked, with no stored direction, medium confidence. Reason on file: SPDR S&P Retail ETF: it holds retailers. Linked by “beijing” (retail and consumer goods) in this story
- AAXJ Ishares Msci Asia Ex-Japan
For “How Trump’s trade policy is handing Asia to Beijing,” Ishares Msci Asia Ex-Japan (AAXJ) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI All Country Asia ex Japan ETF holds stocks listed in Asia, which this story is about (“asia”)
- FXI Ishares China Large-Cap Etf
For “How Trump’s trade policy is handing Asia to Beijing,” Ishares China Large-Cap Etf (FXI) is linked, with no stored direction, medium confidence. Reason on file: iShares China Large-Cap ETF holds stocks listed in China, which this story is about (“beijing”)
- BABA Alibaba Group Holding
Alibaba Group Holding (BABA) is linked, with no stored direction, medium confidence in the 2 Nov 2026 story “How Trump’s trade policy is handing Asia to Beijing.” Reason on file: Alibaba Group Holding (business services, with business in China): Chinese tech names move with Beijing policy and US-China relations. Linked by “beijing” (Chinese tech) in this story
- JD JD.com
For “How Trump’s trade policy is handing Asia to Beijing,” JD.com (JD) is linked, with no stored direction, medium confidence. Reason on file: JD.com (retail stores, with business in China): Chinese tech names move with Beijing policy and US-China relations. Linked by “beijing” (Chinese tech) in this story
- BIDU Baidu
Baidu (BIDU) is linked, with no stored direction, medium confidence in the 2 Nov 2026 story “How Trump’s trade policy is handing Asia to Beijing.” Reason on file: Baidu (computer programming, data processing, etc., with business in China): Chinese tech names move with Beijing policy and US-China relations. Linked by “beijing” (Chinese tech) in this story
How “How Trump’s trade policy is handing Asia to Beijing” reaches Kraneshares Csi China Internet Etf (KWEB)
The 2 Nov 2026 story “How Trump’s trade policy is handing Asia to Beijing” names Kraneshares Csi China Internet Etf (KWEB) because of this story.
What ties Kraneshares Csi China Internet Etf (KWEB) to the headline is this: KraneShares CSI China Internet ETF: it holds Chinese internet companies. Linked by “beijing” (Chinese tech) in this story
A second company, Vaneck Etf Trust (SMH), is listed for a different reason: VanEck Semiconductor ETF: it holds chipmakers. Linked by “beijing” (semiconductors) in this story
Price levels for Kraneshares Csi China Internet Etf (KWEB)
KWEB traded between 22.90 and 25.02 across 20 sessions. The latest close on file is 23.13. SMH traded between 511.68 and 639.33 across 20 sessions. The latest close on file is 522.89.
A simple score for Kraneshares Csi China Internet Etf (KWEB)
54 out of 100
“How Trump’s trade policy is handing Asia to Beijing” scores 54 out of 100. The score uses 2 sources, and 8 linked companies.