1 week Ago
China calls Trump’s new tariff threat "a mistake upon a mistake" China’s Commerce Ministry says it “firmly opposes” the additional 50% tariffs on Chinese imports threatened by President Donald Trump on Monday, calling it “a mistake upon a mistake.” “If the United States implements the escalating tariff measures, China will resolutely take countermeasures to safeguard its own rights and interests,” the ministry said in a statement on Tuesday. It denounced Trump’s “reciprocal tariffs” as “completely unfounded” and “typical unilateral bullying.
” “The US threat to escalate tariffs is a mistake on top of a mistake, which once again exposes the blackmailing nature of the US. China will never accept this. If the US insists on its own way, China will fight to the end,” the ministry said.
Reiterating that there are no winners in a trade war, the ministry emphasized that “pressure and threats are not the right way to engage with China.” “We urge the US to immediately correct its erroneous practices, cancel all unilateral tariff measures against China, stop suppressing China in the economic and trade sphere, and resolve differences properly through equal dialogue based on mutual respect,” the statement added. Markets rise worldwide following huge market rout Stock markets around the world rose Tuesday after a major rout the previous day, fueled by fears over the economic fallout of US President Donald Trump’s new tariffs.
Most Asian stock indexes closed higher: Japan’s benchmark Nikkei 225, which tracks more than 200 of the country’s biggest listed companies, closed 6% up In South Korea, the Kospi closed 0.3% higher Australia’s benchmark ASX 200 closed 2.3% stronger Hong Kong’s Hang Seng index closed 1.
5% higher Across Europe: The benchmark STOXX 600 index was up 1.2% by 3.51 a.
m. ET. France’s CAC index had risen 1.
4% And Germany’s DAX 1.3% by the same time London’s FTSE 100 index was up 1.1% US stock futures were also higher.
The Dow index was on track to open 1.8% up and the S&P 500 index 1.6% higher.
For the tech-heavy Nasdaq index, futures pointed to a 1.6% rise at the open. It's Tuesday morning, so here's a recap of Monday evening The big headline from Monday evening was a significant White House victory .
The Supreme Court allowed Donald Trump to enforce the Alien Enemies Act for now, which will let immigration officials rely on a sweeping wartime authority to rapidly deport alleged gang members. Trump wrote on Truth Social yesterday that it was “a great day for justice in America.” Here’s what else happened yesterday: Trump fires US military official at NATO: Trump fired Vice Adm.
Shoshana Chatfield , the US military representative to the NATO Military Committee, according to a news release from Sen. Jack Reed of Rhode Island. The top Democrat on the Senate Armed Services Committee called the dismissal “disgraceful” and “unjustified.
” Trump tariff threat to China: Trump threatened to add new 50% tariffs on China if Beijing doesn’t remove its retaliatory duties by today. China’s Commerce Ministry says it “firmly opposes” the additional tariffs, calling it “a mistake on top of a mistake.” Federal employees: Department of Homeland Security Secretary Kristi Noem sent an email to DHS component agencies tonight announcing that employees would once again have the choice to accept deferred resignation or early retirement options, according to a copy of the email obtained by CNN.
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