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.
U.S. inflation accelerated in June, dealing a potential setback to expectations of imminent Federal Reserve rate cuts.
In a surprising long-term performance shift, gold has officially outpaced the U.S. stock market over the past 25 years—dividends included.
The United States has rolled out a broad set of new import tariffs this week, targeting over 30 countries and economic blocs in a sharp escalation of its trade protection measures, according to list from WatcherGuru.
After a week of record-setting gains in U.S. markets, investors are shifting focus to a quieter yet crucial stretch of macroeconomic developments.