Since the Madrid talks in September, Washington has rolled out a new package of restrictive trade measures targeting Chinese mainland businesses. These include tightened export controls on advanced semiconductors, higher tariffs on key industrial goods, and fresh restrictions on foreign direct investment.
In a swift response, Beijing announced countermeasures to defend its legitimate rights and interests. The Chinese premier's office said the measures will focus on safeguarding supply chains and protecting domestic industries from unfair barriers.
Economists warn that this tit-for-tat escalation could rattle global markets. According to a recent analysis, world trade volume could dip by 1.8% if the standoff deepens, with emerging markets feeling the pinch on both sides.
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Reference(s):
cgtn.com
