China has strongly criticized President Trump’s threat to impose a 10% tariff on all Chinese imports, warning of significant consequences for both nations and the global economy.
The Chinese Embassy in Washington stressed that trade cooperation benefits both countries and that no one wins in a trade war. Trump insists that the tariffs will stay until China takes more action to stop the flow of fentanyl into the U.S., but China rejected the accusation, stating it has made progress in combating drug trafficking.
The fentanyl issue, long a point of contention, has led to joint efforts between the U.S. and China to curb trafficking. Despite progress, Trump remains unsatisfied, demanding harsher penalties for traffickers.
Meanwhile, China’s economy, already under strain, faces further pressure from the proposed tariffs. Beijing is cautious, waiting to see how Trump’s policies unfold before determining its next move.
Rather than direct retaliation, China is focusing on strengthening trade ties with other countries to counter U.S. policies. President Xi has warned against a new cold war, stressing that efforts to contain China will fail.
This trade dispute reflects deeper geopolitical tensions, with the U.S. taking steps to limit China’s global influence, especially in technology and military matters. Despite these challenges, China has avoided involvement in U.S. domestic politics, instead highlighting that actions against it will only spur China’s determination to move forward.
Economist Peter Schiff isn’t buying the fanfare around the latest U.S.-China tariff deal. In his view, Washington just blinked.
Global markets are gaining traction after the U.S. and China struck a short-term trade deal, dialing down tariffs to 10% for a 90-day period starting May 14.
China is making quiet but decisive moves to elevate the yuan’s status in global finance, leveraging recent geopolitical shifts and trade negotiations to boost the currency’s reach.
A wave of optimism swept through global markets as the United States and China took decisive steps to de-escalate their long-running trade dispute.