China Urges US to Revoke Tariffs, Plans Retaliation

In response to President Trump's recent implementation of a 10% tariff on most imports, China's commerce ministry has vowed to take countermeasures, criticizing the tariffs as a violation of international trade rules that harm global economic growth. The tariffs, which impose steeper rates on key trading partners such as China, have sparked concerns of a global trade war, with China facing tariffs as high as 34%. The U.S. administration argues that the tariffs are necessary to rectify trade imbalances and protect American manufacturing jobs, but experts warn they could lead to higher consumer prices and stunted economic growth. Allies including the European Union and Japan are also affected, with EU chief Ursula von der Leyen calling the tariffs a significant blow to the world economy. As trade tensions escalate, major markets have reacted negatively, with significant drops observed in Asian and European stock indices. The situation remains fluid, with calls for dialogue and negotiations emphasized as critical to avoid further escalation.