Escalating Trade Tensions: The US-China Tariff Tango

China has urged the US to cancel its latest tariffs, responding with threats of countermeasures. Trump's tariffs on Chinese goods are set to rise to 54%, impacting global supply chains. China's economic growth remains steady, but trade tensions with the US could pose significant challenges.

In a sharp escalation of trade tensions, China has urged the United States to cancel recent tariff hikes, vowing retaliatory measures to protect its interests. This comes after President Trump declared significant tariffs on all U.S. trading partners, disregarding long-standing multilateral trade agreements, China's Commerce Ministry highlighted.

China firmly opposes the U.S. tariffs, preparing counteractions as tensions risk deepening the ongoing trade war. President Trump announced a 34% tariff increase on China, atop an earlier 20% rise. Meanwhile, low-value packages from China exploited trade loopholes, entering the U.S. duty-free until an executive order closed them.

Despite the increased tariffs, China's economy remains stable, with Beijing keeping its growth target at 5%. However, the looming tariffs could affect China's exports. As Trump and Xi Jinping may meet to discuss the crisis, their standoff reflects a delicate balance of pressure and diplomacy.

(With inputs from agencies.)