BEIJING: China&#39;s foreign minister warned on Monday that a &quot;multipolar world is coming&quot;, a veiled jab at Washington ahead of key talks between Donald Trump and Xi Jinping.&nbsp;Global markets are watching closely to see if Thursday&#39;s planned meeting between the two presidents can halt a trade war sparked by the sweeping tariffs Trump announced after returning to office this year.&nbsp;Speaking at a forum in Beijing on Monday, Wang Yi urged &quot;an end to politicizing economic and trade issues, artificially fragmenting global markets, and resorting to trade wars and tariff battles.&quot;&nbsp;&quot;Frequently withdrawing from agreements and reneging on commitments, while enthusiastically forming blocs and cliques, has subjected multilateralism to unprecedented challenges,&quot; Wang said, without naming specific countries.&nbsp;&quot;The tide of history cannot be reversed, and a multipolar world is coming,&quot; Wang said.&nbsp;Trump began a tour of Asia on Sunday, which is set to culminate in a meeting with Xi in South Korea -- the first face-to-face talks between the two leaders since the US president began his second term in January.&nbsp;US Treasury Secretary Scott Bessent and China&#39;s Vice Premier He Lifeng have already held two days of trade talks, seeking an agreement to avoid additional 100% tariffs set to take effect on Nov. 1.&nbsp;China&#39;s vice commerce minister, Li Chenggang, said a &quot;preliminary consensus&quot; had been reached.&nbsp;Bessent told ABC that the extra tariffs had effectively been averted and signaled that a deal on rare earths and American soybean exports had been reached.

Asia

Global markets are watching closely to see if Thursday's planned meeting between the two presidents can halt a trade war sparked by the sweeping tariffs Trump announced after returning to office this year.

China hails coming of 'multipolar world' ahead of Trump-Xi talks

BEIJING: China said Tuesday it was ready to &quot;fight to the end&quot; in a trade war with the United States after President Donald Trump said he would slap additional 100% tariffs on goods from the country. The move, revealed in a Friday social media post, was in response to Beijing&#39;s announcement last week of sweeping new export controls in the strategic field of rare earths -- currently dominated by China. Trump also announced in the post that Washington would impose export controls &quot;on any and all critical software&quot; from November 1. The latest escalation has rattled markets and called into question a potential upcoming meeting with Chinese counterpart Xi Jinping in South Korea. &lsquo;Dialogue while threatening&rsquo;&nbsp;&quot;On the matter of tariff wars and trade wars, China&#39;s position remains consistent,&quot; an unnamed commerce ministry spokesperson said in a statement Tuesday. &quot;If you wish to fight, we shall fight to the end; if you wish to negotiate, our door remains open,&quot; the statement said. &quot;The United States cannot simultaneously seek dialogue while threatening to impose new restrictive measures. This is not the proper way to engage with China.&quot; &lsquo;It will all be fine&rsquo;Trump appeared to walk back his rhetoric in a Sunday social media post that said &quot;it will all be fine&quot;, adding that the United States wants to &quot;help&quot; China. On Monday, as the outlook for trade with the United States darkened, newly released official data for September showed that China&#39;s overseas shipments have remained resilient. Exports jumped 8.3% year-on-year last month, the fastest expansion since March and much faster than forecasts. Largest consumer market&nbsp;Shipments to the United States -- the world&#39;s largest consumer market -- picked up to reach $34.3 billion, the data showed. Chinese goods currently face US tariffs of at least 30% under levies that Trump imposed while accusing Beijing of aiding in the fentanyl trade as well as unfair trade practices. China&#39;s retaliatory tariffs are currently at 10%. The global impact of Trump&#39;s tariff onslaught is in the spotlight this week as a semi-annual gathering of the International Monetary Fund and the World Bank takes place in Washington. The White House continues to insist that the long-term effect of tariffs will be positive for the United States, pointing to their relatively muted economic impact so far.

Business

Latest escalation has rattled markets; Chinese goods currently face US tariffs of at least 30% under levies that Trump imposed; China's retaliatory tariffs are currently at 10%.

Articles tagged with "China US trade war"

China hails coming of 'multipolar world' ahead of Trump-Xi talks

China says will 'fight to the end' in US trade war