China and U.S. Braced for Escalating Trade Tensions

China is preparing retaliatory measures against new U.S. tariffs as tensions rise between the two economic giants. With U.S. agricultural products likely targeted, Beijing seeks to negotiate yet faces diminishing chances of a truce. The conflict arises amidst both nations' domestic economic agendas.

China is reportedly gearing up to implement countermeasures against new U.S. import tariffs, set for enforcement this Tuesday, according to the Global Times. This development suggests a potential trade war between the world's two largest economies.

U.S. President Donald Trump announced an additional 10% duty, leading to a total 20% tariff, accusing China of inadequate efforts to control the flow of fentanyl. In response, China's commerce ministry condemned the move as blackmail. The Global Times, a Chinese state media outlet, reported that China's response could include both tariff and non-tariff measures, potentially targeting American agricultural and food products.

As the U.S. remains vulnerable to such retaliations given its dependence on China as a major market for its agricultural exports, analysts suggest that while Beijing hopes for negotiations, the chances for peaceful resolution seem slim. Simultaneously, China is focused on diversifying its sourcing and boosting domestic production to enhance food security.

(With inputs from agencies.)