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.
As trade tensions rise and economic signals grow harder to read, America’s largest banks are posting quarterly results that reflect both resilience and caution.
BlackRock CEO Larry Fink has raised alarms over a possible U.S. recession, warning that the downturn may have already begun.
China has fired back at the United States with a sharp tariff increase, raising duties on U.S. imports to 125% effective April 12, 2025.
Global markets were shaken after President Trump unexpectedly announced a temporary freeze on U.S. trade tariffs, slashing rates to 10% for the next 90 days.