The US-China trade war escalates as Beijing imposes 84% tariffs on US imports and cuts American film screenings. China’s Foreign Ministry states it “does not want a trade war but won’t back down,” while Trump raises tariffs on Chinese goods to 125% and pauses others for 90 days. Analysts suggest Washington aims to isolate Beijing, though Chinese markets rose 1-2% amid state intervention.
Chinese manufacturers face order cancellations, with some US-bound shipments abandoned mid-voyage. Beijing condemns US tariffs but remains open to talks “based on mutual respect.” Meanwhile, nationalist sentiment surges online, with social media users rallying behind China’s retaliatory measures. Economists warn of SME bankruptcies and labour market strain.
Al Jazeera’s Katrina Yu reports from Beijing.
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