KUALA LUMPUR: China opposes excessive tariffs, says China's Foreign Minister Wang Yi. He said this on the sidelines while heading to the Asean+3 meeting here on Thursday (July 10). "We oppose excessive tariffs," he told reporters briefly when asked about China's stance on the tariffs imposed by the United States.

China’s exports to the United States have plunged over 43% year-over-year in May, representing a $15 billion drop in trade value, yet at the same time, China’s total exports have increased 4.8%, according to official figures,

President Trump is alerting countries around the world of impending tariff rates that they will face when sending goods to the United States, hitting prominent trading partners and poorer nations

Bangladesh is one of those nations that face pressure from Washington to decouple their manufacturing industries from Chinese suppliers, according to officials familiar with trade negotiations.

Relying on Asian suppliers is no longer a safe bet for many factories in Mexico. Companies are racing to change, and they are being encouraged by the government.

The average car price in China is around $22,900 (165,000 yuan). BYD Co. Ltd., the world's largest EV maker, announced discounts of 30% or more on 20 models in late May. Its budget-friendly electric Seagull compact car saw its starting price drop to $7,750 (55,800 yuan).

The US president's tariff regime has up-ended global markets, disrupted businesses and thrown international trade into uncertainty and today's deadline is unlikely to put an end to it.

China on Friday imposed anti-dumping duties on European brandy, most notably cognac produced in France, as trade tensions between Beijing and United States allies continue to rise.