21 sources·Politics

US-China Trade Tensions Escalate Amid Proposed Tariffs

President-elect Trump's proposed 60% tariffs heighten trade tensions as China emphasizes dialogue and the significance of stable economic relations.

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Updated: Nov 22nd, 2024, 10:06 AM ET

Summary

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As trade tensions escalate with President-elect Trump's proposed 60% tariffs, China remains committed to dialogue, emphasizing the adverse effects on consumer prices. Chinese Vice Commerce Minister warns that tariffs do not resolve trade imbalances but inflate costs, risking startups reliant on Chinese imports. Concurrently, as the COP29 climate summit unfolds, developing nations express frustration over a proposed deal pledging $250 billion by 2035 for climate adaptation from wealthy countries, highlighting broader global economic disparities.

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