Market Speaks: China's Rebuke Against Trump's Tariffs

China rebukes U.S. tariffs imposed by President Donald Trump, urging equal-footed consultation. China's retaliation includes levies on U.S. goods and export curbs, escalating the trade war. Hong Kong remains committed to free trade. Global markets react negatively, with major declines in stock indices.

China has dismissed U.S. President Donald Trump's tariff measures, emphasizing that the 'market has spoken' against them, and urged Washington for equal-footed negotiations after global markets reacted adversely.

Several Chinese industry associations expressed unity in seeking alternative markets, highlighting potential inflation hikes in the U.S. Hong Kong, balancing its stance, decided against imposing separate measures, maintaining its commitment to a free and open market.

Amid escalating tensions, Trump's tariffs on Chinese goods have increased significantly, provoking China's retaliatory tariffs and contributing to significant global market declines. Industry leaders call for resolve through international cooperation and adherence to multilateral trade norms.

(With inputs from agencies.)