Tariff Tensions Rise: China and U.S. in Economic Standoff

China dismisses U.S. tariff threats as both giants remain locked in an economic standoff. The White House accuses China of unfair trade practices, imposing tariffs up to 245%. While President Trump hints at potential negotiations, China insists on mutual respect and equal terms. New trade negotiator Li Chenggang oversees China's strategy.

The economic tensions between China and the United States continue to escalate as Beijing dismisses Washington's latest tariff threats. The White House has outlined that China faces duties of up to 245% due to its retaliatory actions, further deepening the trade rift between the two nations.

In recent developments, President Donald Trump had initially announced a sweeping array of tariffs on all countries before scaling back for many, yet maintaining harsh duties on Chinese imports. In response, China elevated its tariffs on U.S. products, with officials emphasizing the need for any negotiations to occur under the premise of mutual respect and equality.

Amidst this backdrop, China filed a complaint with the World Trade Organization, challenging the U.S.'s adherence to global trade rules. Notably, China has appointed Li Chenggang as its new trade negotiator, replacing Wang Shouwen, as it navigates through these turbulent trade waters. President Trump remains open to dialogue but insists that China must make the initial concession.

(With inputs from agencies.)