Global Trade Turmoil: China's Defiant Stand Against US Tariff 'Blackmail'

China has denounced the United States' 'blackmail' amid President Trump's escalating tariffs, hinting at a prolonged trade war. Despite market volatility, European leaders call for negotiation, wary of trade diversion threats. As tensions rise, global markets react with fluctuating stocks and economic adjustments from various countries.

China has firmly rejected what it describes as 'blackmail' from the United States as a trade war triggered by President Donald Trump's tariffs continues. Despite market upheaval, China is standing its ground against the U.S.'s tariff escalations.

In response, the European Union is weighing in on counter-measures, with leaders advocating for a fair trading system, while voicing concerns over potential trade diversion. European Commission President Ursula von der Leyen highlighted the importance of negotiation in calls with China's Premier Li Qiang.

Global markets have experienced significant turbulence, yet showed some recovery as countries like Japan and China implemented strategies to mitigate the impact. Talks of reduced tariffs and increased imports are emerging, as nations strive for balance in the face of economic uncertainty.

(With inputs from agencies.)