Trade Tensions Rise: China vs. Trump's Tariff Threats

China vows to counter the US after President Trump threatens increased tariffs on Chinese imports. China denounces US tariffs as unilateral bullying and illegitimate. The escalating trade tensions have unsettled global markets, while China hints at further counteractions to protect its interests.

In an intensifying trade confrontation, China announced it would counter the United States following President Trump's decision to impose a 50% tariff hike on Chinese goods. This retaliatory measure comes amidst accusations from China labeling US tariffs as a form of unilateral bullying.

The escalating trade disputes, marked by President Trump's new tariff threats, have put global financial markets in turmoil. Fears mount over a deepening trade war as stocks waver from Tokyo to New York, highlighting concerns over global economic stability.

Amid the turmoil, European markets find themselves wooed by China's outreach, as the European Union seeks trading avenues beyond the US. Despite potential inflation risks emphasized by Federal Reserve Chair Jerome Powell, both nations remain locked in a high-stakes economic standoff.

(With inputs from agencies.)