In brief
Chinese officials are urging US President Donald Trump to fully revoke the controversial reciprocal tariffs as the trade conflict between the world's largest economies intensifies. Recently, Trump announced a temporary halt for selected global tariffs, while ramping up duties on Chinese imports to an unprecedented 145%. The Chinese ministry called for the US to "correct its mistakes" and highlighted the need for a respectful trade relationship. Trump’s recent exclusions of certain tech products from tariffs, including smartphones and computers, were termed a "small step" by China, which is assessing their implications. Despite these developments, a dialogue between Trump and Chinese President Xi Jinping seems unlikely in the near term. The trade war has seen tariffs from both nations escalate dramatically, with China imposing steep levies on US goods in retaliation. Trump has defended his administration's tariff strategy as essential for achieving fairer trade terms, but it has led to volatility in global markets and concerns over a slowdown in economic growth worldwide.
