China urges US to drop unilateral tariffs after Supreme Court strikes down Trump measures

Key Highlights

• “There are no winners in a trade war and that protectionism leads nowhere.”More from World Global markets enter ‘murky waters’ after US Supreme Court strikes down Trump tariffs US tariff for Indian goods cut to 10%?
• White House clarifies new Trump orderThe new 15 per cent duties are scheduled to take effect on Tuesday and are expected to last 150 days, with some product exemptions. Foreign ministry warns of further US actionsChina’s foreign ministry said it was watching closely for potential US steps to retain elevated tariffs.“The United States is currently planning alternative measures such as trade investigations in order to maintain increased tariffs on trading partners.
• China will continue to pay close attention to this and resolutely safeguard China’s interests,” it said. China’s warning comes weeks before Trump’s planned visit to the country, which will be his first trip there in his second term.
• The US Trade Representative, Jamieson Greer, said a meeting scheduled for April between Trump and Xi Jinping was “not to fight about trade”. Quick ReadsView All'A deal is a deal': EU says it won't tolerate any hike in US tariffs following Supreme Court’s rulingWho was El Mencho, the ex-cop who became Mexico’s powerful drug cartel leader?Political setback for Trump’s economic agendaThe Supreme Court ruling marked a significant political setback, removing a core instrument of Trump’s economic policy that has disrupted global trade dynamics.
• Several countries have said they are reviewing the ruling and his subsequent tariff announcements. Greer said on Sunday that trade deals with China, the European Union and other partners would remain in effect despite the court’s decision. US trade officials previously warned in December that they could impose tariffs on the semiconductor sector after determining that Beijing’s practices were “unreasonable”.