Overview
- The US has raised tariffs on Chinese imports to 145%, prompting China to impose retaliatory measures, including import restrictions and higher tariffs.
- Xi Jinping publicly declared that China is 'not afraid' of the escalating trade war, emphasizing the nation's history of self-reliance and resilience.
- Rather than engaging directly with the US, Xi is focusing on strengthening alliances, meeting with Spain's Prime Minister Pedro Sanchez and planning a diplomatic tour of Southeast Asia.
- China's efforts to deepen ties with European and Asian nations aim to stabilize its economic position and counterbalance US unilateral actions.
- The escalating trade war threatens to disrupt global trade and economic relations, with no resolution in sight as both nations remain entrenched in their positions.