China responds to US tariff claims, justifies Beijing’s retaliatory actions
Chinese foreign ministry spokesperson Lin Jian has responded to the White House’s claim that China now faces tariffs of up to 245% on imports to the United States. Speaking at a press briefing, Lin said, “You can ask the US side for the specific tax rate figures.”
He reiterated China’s position, stating the tariff war was initiated by the United States. Lin stressed that Beijing’s retaliatory actions are “completely reasonable and legal,” aimed at safeguarding the country’s rights and upholding fairness in international trade.
China says ‘not afraid to fight’ trade war with US
China warned Wednesday it was “not afraid” to fight a trade war with the United States and reiterated calls for dialogue, after US President Donald Trump said it was up to Beijing to come to the negotiating table.
“If the US really wants to resolve the issue through dialogue and negotiation, it should stop exerting extreme pressure, stop threatening and blackmailing, and talk to China on the basis of equality, respect and mutual benefit,” foreign ministry spokesman Lin Jian said.
China now faces up to a 245% tariff on imports to the United States as a result of its retaliatory actions
Trump considers a pause on his auto tariffs
US President Donald Trump has hinted at the possibility of temporarily exempting the auto industry from previously imposed tariffs, aiming to give car manufacturers time to realign their supply chains. At the same time, his administration is moving forward with plans for additional tariffs, launching investigations into key imports such as computer chips, semiconductor manufacturing equipment, and pharmaceuticals.
Honda to shift US-bound civic hybrid production from Japan to America
Honda has announced it will relocate production of its five-door Civic hybrid model, sold in the US, from Japan to America. According to the BBC, a company spokesperson confirmed that manufacturing at the Yorii plant near Tokyo is expected to end by June or July.
The move comes in response to a 25% tariff imposed by the US on foreign-made vehicles, which has affected automakers like Honda that export cars to America.
‘Ball in China’s court’: Trump ‘scrambles’ as Beijing strikes again; ‘Halts’ Boeing jet delivery
Nvidia says US export curbs on H20 AI chips to China could cost $5.5 billion
Nvidia has warned that new US export restrictions on its H20 AI chips to China could result in a $5.5 billion (£4.15bn) hit to its business. In a regulatory filing on Tuesday, the company revealed that US authorities informed them on 9 April that a licence would now be required to export the chips to China.
The Biden administration has been tightening rules on AI chip exports to China, citing national security concerns. The latest move comes just a day after Nvidia announced it would begin manufacturing some AI chips within the US.
Nvidia shares fell more than 6% in after-hours trading following the disclosure.
Japan sends minister to Washington as tariff talks with US begin
Ryosei Akazawa, Japan’s minister responsible for negotiating with the US on trade, is heading to Washington in a bid to persuade the Trump administration to ease steep tariffs on Japanese goods.
This diplomatic push follows an agreement last week between US President Donald Trump and Japanese Prime Minister Shigeru Ishiba to begin talks. However, Ishiba has made it clear that Tokyo will not be rushed into a deal or make major concessions.
Speaking to reporters on Tuesday, chief cabinet secretary Yoshimasa Hayashi said Japan will “urge the US side to review its tariff measures,” and emphasised that the Japanese government is adopting a “whole of government approach” to secure results quickly.
Currently, Japan is facing 24% “reciprocal” tariffs from the United States, though these have been paused for 90 days to allow room for negotiations. Despite the temporary reprieve, the country’s influential car industry, including major exporters like Toyota, Honda, and Nissan, is already bearing the brunt of a 25% tariff on vehicle exports to the American market.
‘Insist on shaking hands rather than shaking fists’: China calls for unity as tariff war with US deepens
China has reaffirmed its stance against rising trade tensions with the United States, urging international cooperation in response to the sweeping tariffs imposed by the Trump administration.
“In the face of external uncertainties, China will insist on shaking hands rather than shaking fists, tearing down walls instead of building barriers, connecting instead of decoupling,” said spokesperson Lin Jian during a press briefing.
At the same time, President Xi Jinping is on a diplomatic tour across Southeast Asia, including stops in Vietnam, Malaysia, and Cambodia. The trip, described as a “charm offensive,” is aimed at reinforcing trade and diplomatic ties with key regional partners as Beijing looks to offset pressure from the United States.
Beijing currently faces 145% tariffs on its exports to the US, while American goods entering China are subject to 125% tariffs.
China appoints new top international trade negotiator amid tariff tensions with US
China has appointed Li Chenggang, its former permanent representative to the World Trade Organization (WTO), as the country’s new top trade negotiator. He takes over from vice commerce minister Wang Shouwen, who had held the position of international trade negotiation representative since 2022.
Li’s appointment comes amid a broader leadership reshuffle and as China faces rising tariff pressures from the United States. The change signals Beijing’s continued focus on navigating the intensifying trade conflict while reinforcing its stated commitment to multilateral trade.
China has repeatedly stressed that it opposes the use of unilateral tariffs and has vowed to maintain a rules-based international trade system through its engagement with global institutions like the WTO.
Chinese official blasts US tariffs as trade ‘bullying’, says ‘China’s economy will continue to grow’
A top Chinese official strongly criticised the United States over its sweeping new tariffs, accusing Washington of violating global trade rules and undermining economic stability, reported BBC.
Speaking after the release of China’s latest GDP data, Sheng Laiyun, deputy commissioner of the China Statistics Bureau, said Beijing “firmly opposes America’s tariff barriers and trade bullying,” warning that such actions violate World Trade Organization (WTO) principles and have a “serious impact on the global economic order.”
While acknowledging that the new tariffs will place “certain pressure” on China’s foreign trade and broader economy, Sheng struck a confident tone about the country’s resilience. “China’s economy will continue to grow in the long-term,” he said, emphasising the strength of domestic consumption and industrial output.
Sheng also hinted that China is preparing to respond with fresh measures to stabilise growth. “Beijing has a rich policy toolkit,” he said, suggesting further stimulus and support for industries that might be hit by rising trade tensions.
‘Inflation is down. Promises made, promises kept’: Trump on US tariffs
US President Donald Trump took to Truth Social to defend his sweeping new tariffs, claiming they are benefiting the American economy despite widespread concern over rising prices and market turmoil.
In his post, Trump declared: “The United States is taking in RECORD NUMBERS in Tariffs, with the cost of almost all products going down, including gasoline, groceries, and just about everything else. Likewise, INFLATION is down. Promises Made, Promises Kept!”
Hong Kong halts parcel shipments to US amid soaring tariffs
Hong Kong’s postal service has announced it will stop shipping small parcels to the United States in response to Washington’s decision to impose hefty tariffs on low-value goods from the city.
The US government plans to scrap the “de minimis” exemption — a rule that currently allows imports under $800 to enter tax-free — and will instead introduce a steep 120% tariff on small-value items from Hong Kong starting May 2. This move comes as part of Washington’s broader trade crackdown, treating Hong Kong as part of mainland China in customs law.
Hongkong Post said it will no longer accept sea-bound parcels from Wednesday, citing shipping delays. Airmail services will stop accepting small goods parcels by April 27. The postal service said it won’t act as a tariff collector for the US and warned the public that sending goods there would now incur “exorbitant and unreasonable fees” due to what it called “bullying acts” by Washington.
Only mail containing documents will still be accepted for US delivery.
This latest development deepens the tensions between Hong Kong and the United States. Though Hong Kong is a free port and has different trade policies than mainland China, the US began treating it as part of China after Beijing introduced a sweeping national security law in 2020. That law, criticised by many Western nations, led the US to withdraw Hong Kong’s special trade status and subject it to the same 145% tariffs imposed on Chinese goods.
China says economy grew 5.4% in first quarter, beating forecasts
Tariffs of 10% Now Seem Low but Can Still Batter Economy
hen Donald Trump championed the idea of a 10% blanket tariff during the campaign, many people, whether for or against, were taken aback by how radical the idea was.
Alarms sounded about higher inflation, lost jobs, slower growth or recession. The prospect seemed so outlandish that most economists and Wall Street analysts who gamed out the possibilities tended to treat a 10% tariff simply as a bargaining tool.
Now, after a rapid-fire series of announcements from the White House that promised, imposed, reversed, delayed, decreased and increased tariffs, the 10% solution is looking like the most temperate choice rather than the most revolutionary, especially now that a red-hot trade war between China and the United States is blazing.
Yet 10% tariffs have not lost their sting.
At that level, universal tariffs still hit more than 10 times as many imports as the ones targeted during Trump’s first term, and are significantly higher and broader than anything the United States has tried in more than 90 years.
The tariff rate is “quite extreme,” said Carsten Brzeski, chief eurozone economist at ING, a Dutch bank. “It still brings us back to levels last seen during the 1930s.”
In addition to measures targeting China, Trump powered up a long list of punishing taxes — including a flat 10% tariff on most imports — on April 9.
“For the U.S. customer, it means everything is going to become more expensive,” Brzeski said.
Wall Street drifts through a rare quiet day following weeks of tariff turmoil
U.S. stocks drifted Tuesday through a rare quiet day for financial markets.
The S&P 500 slipped 0.2%. The Dow Jones Industrial Average fell 155 points, or 0.4%, and the Nasdaq composite edged down by less than 0.1%.
The modest moves offered some respite following the huge swings that have battered Wall Street recently, not just day to day but also hour to hour. The day before, the S&P 500 went from a gain of 1.8% to a slight loss and back to a gain as it struggled to keep up with shifts in President Donald Trump’s trade war, which economists warn could cause a global recession unless it’s scaled back.
Perhaps more importantly, the U.S. bond market also showed more signs of calm after its sudden and sharp moves last week raised worries that investors worldwide may no longer see U.S. government bonds as a no-brainer go-to when times are scary.
The yield on the 10-year Treasury eased to 4.33% from 4.38% late Monday. It had pulled back to there from 4.48% at the end of last week after surging from just 4.01% a week earlier. A drop in yields is what usually happens when investors are scared, and this week’s moves offer a return to form for what historically had been seen as one of the safest investments possible.
Trump says ball in China's court on tariffs
Donald Trump believes it is up to China, not the United States, to come to the negotiating table on trade, the White House said Tuesday, after the US president accused Beijing of reneging on a major Boeing deal.
“The ball is in China’s court. China needs to make a deal with us. We don’t have to make a deal with them,” said a statement from Trump read out by Press Secretary Karoline Leavitt at a briefing.
“There’s no difference between China and any other country except they are much larger,” she added.
Leavitt’s comments came after Trump accused China of going back on a major deal with US aviation giant Boeing — following a Bloomberg news report that Beijing ordered airlines not to take further deliveries of the company’s jets.
The report also said that Beijing requested Chinese carriers to pause purchases of aircraft-related equipment and parts from US firms.
“They just reneged on the big Boeing deal, saying that they will ‘not take possession’ of fully committed to aircraft,” said Trump in a Truth Social post, referring to China.
He did not provide further details on the Boeing agreement he was referring to.
As Trump considers auto tariffs pause, parts exemptions could be key for US industry
President Donald Trump hinted that he might temporarily relieve the auto industry from “permanent” tariffs he previously imposed on the business. The president didn’t specify how long the potential pause would be or what it would entail, but the auto sector is awaiting how rules might change on 25% tariffs based on U.S. parts, if duties remain on assembled vehicles.
Experts have said short pauses aren’t likely to give carmakers enough of an opportunity to adjust their vast global supply chains, though parts exemptions would certainly bolster the industry amid Trump’s trade war whiplash.
Trump told reporters Monday that automakers “need a little bit of time because they’re going to make them here, but they need a little bit of time. So I’m talking about things like that,” referring to relocating production from Canada, Mexico and elsewhere. The news drove global auto stocks up Tuesday.
Matt Blunt, president of the American Automotive Policy Council, which represents domestic auto companies Ford, General Motors and Stellantis, said in a statement: “There is increasing awareness that broad tariffs on parts could undermine our shared goal of building a thriving and growing American auto industry, and that many of these supply chain transitions will take time.”
Trump first announced 25% automotive tariffs late March; the tariffs for completed vehicles took effect on April 3, while the parts tariffs were set to start 30 days later.
“The one-month delay is intended to give the U.S. government time to work out rules to exempt the value of automotive parts that contains U.S.-made materials, which will not be subject to the tariffs,” according to insights from law firm Foley & Lardner, noting a “carveout” for parts certified under regional trade pact, the U.S.-Mexico-Canada Agreement. The Department of Commerce is expected to determine “a system to calculate non-U.S. content” by May 3.
Trump slams Biden over China trade deal, vows to ‘protect our farmers’
“Our farmers are GREAT, but because of their GREATNESS, they are always put on the Front Line with our adversaries, such as China, whenever there is a Trade negotiation or, in this case, a Trade War. The same thing happened in my First Term. China was brutal to our Farmers, I these Patriots to just hold on, and a great trade deal was made. I rewarded our farmers with a payment of $28 Billion Dollars, all through the China deal. It was a great transaction for the USA, until Crooked Joe Biden came in and didn’t enforce it. China largely reneged on the deal (although they behaved during the Trump Administration), only buying a portion of what they agreed to buy. They had ZERO respect for the Crooked Biden Administration, and who can blame them for that? Interestingly, they just reneged on the big Boeing deal, saying that they will “not take possession” of fully committed to aircraft. The USA will PROTECT OUR FARMERS!!!” he said.
Trump considers a pause on his auto tariffs
President Donald Trump has hinted at the possibility of temporarily exempting the auto industry from previously imposed tariffs, aiming to give car manufacturers time to realign their supply chains. At the same time, his administration is moving forward with plans for additional tariffs, launching investigations into key imports such as computer chips, semiconductor manufacturing equipment, and pharmaceuticals.