NEW YORK (AP) — The trade wars launched by U.S. President Donald Trump have escalated to new heights. Just days after Trump unveiled sweeping new “reciprocal” tariffs on imports from around the world, China on Friday levied a retaliatory 34% tariff on all U.S. products starting April 10. Stock markets worldwide plummeted, as the S&P…
China’s Ministry of Commerce announced on Tuesday the inclusion of a major US biotech company on its “unreliable entity list” while stating that the firm’s “discriminatory measures against Chinese enterprises” harmed the legitimate rights and interests of Chinese companies. Leading American genomic sequencing firm Illumina is the first biotech company on Beijing’s list. More than…
Observers said China’s retaliatory moves in response to US tariffs showed Beijing’s readiness to face escalating trade tensions along with its desire to achieve more at the negotiation table. Analysts said that compared with the immediate relief the US granted to its neighbours by delaying tariffs on Mexican and Canadian goods, Washington might take a…