Trade Tensions Escalate: China Counters US Tariffs

In retaliation against the US, China imposed additional tariffs on American goods and took legal action at the WTO. Despite the tensions, China expressed readiness to resolve disputes with dialogue, urging mutual respect. The tariffs come as US President Trump imposes further tariffs on Chinese exports.

In a bold move of retaliation, China on Tuesday hit back against US President Donald Trump's fresh round of 10% tariffs by enforcing an additional 15% tariff on American imports, while initiating legal action at the World Trade Organization.

This escalating trade tension sees China imposing extra tariffs on US products like chicken and wheat, alongside placing certain US firms on an 'unreliable entity list'. While addressing the matter, China expressed its willingness to engage in dialogue to alleviate mutual concerns.

This comes amid the commencement of China's significant parliamentary sessions, with the undercurrents of Trump's tariff announcement threatening to overshadow proceedings. As US-China trade reached USD 575 billion in 2023, the stakes remain high for these superpowers.

(With inputs from agencies.)