Overview

• China's finance ministry announced a tariff increase on US goods from 84% to 125%, marking a significant escalation in the trade conflict.
• Chinese officials have warned of resolute countermeasures if the US continues to impose measures infringing on China's interests.
• Beijing stated it would disregard any future additional US tariffs on Chinese exports.
• President Xi Jinping urged the European Union to collaborate with China in resisting what he described as unilateral bullying by the US.
• The ongoing tariff battle has raised concerns over global market instability, supply chain disruptions, and potential economic downturns.