As the world’s two biggest economies face off over trade, a Chinese diplomat shared a video of the late leader Mao Zedong and declared that Chinese people “don’t back down.”
Beijing, which imports far fewer goods from the U.S. than it exports, is considering a range of nontariff measures amid growing trade tensions between the world’s two biggest economies.
As President Donald Trump tries to return the U.S. to its manufacturing past, China wants to make its economy more like that of the U.S. by boosting domestic consumption.
“There isn’t one ‘right’ response to Trump’s tariffs,” one analyst says. “China and the E.U. have different geopolitical relationships with the U.S. and different decision-making processes.”
Pharmaceutical imports were initially exempt from Trump’s first set of reciprocal tariffs last week, but his administration has since indicated that levies are coming.
Indonesia is ready to evacuate a first batch of around 1,000 victims, who will stay in the country until they have fully recovered from their injuries.
The tussle over two ports on the Panama Canal shows Beijing’s willingness to assert its power as the U.S. attempts to roll back Chinese presence in the Western Hemisphere.
Global markets got momentary relief Tuesday, but China said it would “fight to the end” in an escalating tit-for-tat with the U.S. over Trump’s tariffs.