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China vows to ‘fight to the end’ after Trump threatens more tariffs – National TenX News

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China said Tuesday it would “fight to the end” and take countermeasures against the United States to safeguard its own interests after President Donald Trump threatened an additional 50 per cent tariff on Chinese imports.

The Commerce Ministry said the U.S.‘s imposition of “so-called ‘reciprocal tariffs’” on China is “completely groundless and is a typical unilateral bullying practice.”

China, the world’s second-largest economy, has announced retaliatory tariffs and the ministry hinted in its latest statement that more may be coming.

“The countermeasures China has taken are aimed at safeguarding its sovereignty, security and development interests, and maintaining the normal international trade order. They are completely legitimate,” the ministry said.

“The U.S. threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the U.S. China will never accept this. If the U.S. insists on its own way, China will fight to the end,” it added.

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Click to play video: 'U.S.-China trade war escalates: China hits back with 34% tariff on U.S.'


U.S.-China trade war escalates: China hits back with 34% tariff on U.S.


Analysts and traders worry about a global trade war

Trump’s threat Monday of additional tariffs on China raised fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war. Stock markets from Tokyo to New York have become more unstable as the tariff war worsens.

Trump’s threat came after China said it would retaliate against U.S. tariffs he announced last week.

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“If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” Trump wrote on Truth Social. “Additionally, all talks with China concerning their requested meetings with us will be terminated!”

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If Trump implements his new tariffs on Chinese products, U.S. tariffs on Chinese goods would reach a combined 104%. The new taxes would be on top of the 20% tariffs announced as punishment for fentanyl trafficking and his separate 34% tariffs announced last week. Not only could that increase prices for American consumers, it could also give China an incentive to flood other countries with cheaper goods and seek deeper relationships with other trading partners, particularly the European Union.


Click to play video: 'Stocks tumble as Trump signals no tariff respite'


Stocks tumble as Trump signals no tariff respite


Chinese people worry, but keep faith with their country

On the streets of Beijing, people said they found it hard to keep track of all the announcements, but expressed belief in their country’s ability to weather the storm.

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“Trump says one thing today and another tomorrow. Anyway, he just wants benefits, so he can say whatever he wants,” said Wu Qi, 37, who works in construction.

Others were less sanguine. Paul Wang, 30, who sells stainless accessories, including necklaces, bracelets, and tongue studs to Europe, said the European market was now more important after the extra U.S. 50 per cent tariffs and he would be watching to see which other firms in his field would be competing in that space.

Jessi Huang and Yang Aijia, whose companies import chemicals from the U.S., said the tariffs, including potential Chinese retribution, could force them to close up shop.

“It would be very hard and very likely to have a layoff, maybe even closing,” Huang said, “I might not be able to find another job if I get laid off.”


Click to play video: 'China strikes back as stocks slide after worst day since 2020'


China strikes back as stocks slide after worst day since 2020


China isn’t out of options to retaliate

China still has a range of options to strike back at the Washington, experts said, including suspending cooperation on combating fentanyl, placing higher quotas on agricultural products and going after the U.S. trade in services in China such as finance and law firms.

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U.S. total goods trade with China was an estimated $582 billion in 2024, making it the top trader in goods with the U.S. The 2024 deficit with China in goods and services trade was between $263 billion and $295 billion.

Foreign Ministry spokesperson Lin Jian appeared to give short shrift to talk of dialogue with the Trump administration.

“I don’t think what the U.S. has done reflects a willingness for sincere dialogue. If the U.S. really wants to engage in dialogue, it should adopt an attitude of equality, mutual respect and mutual benefit,” Lin said.


Click to play video: 'Trump says US being ‘looted’ by other nations is justification for new ‘reciprocal’ tariffs'


Trump says US being ‘looted’ by other nations is justification for new ‘reciprocal’ tariffs


In Hong Kong, where stocks were slightly higher Tuesday, Chief Executive John Lee blasted the latest U.S. tariffs as “bullying,” saying the “ruthless behavior” has damaged global and multilateral trade and brought great risks and uncertainties to the world.

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Lee said the city would link its economy closer to China’s development, sign more free trade agreements, attract more foreign companies and capital to Hong Kong, and support local enterprises in coping with the impact of the tariffs.

Associated Press writers Chris Megerian, Josh Boak and Fu Ting in Washington, Christopher Bodeen in Taipei, Taiwan, and Kanis Leung in Hong Kong contributed to this report.


&copy 2025 The Canadian Press



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Trump gifted Nobel Peace Prize by Venezuela’s María Corina Machado – National TenX News

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Venezuelan opposition leader María Corina Machado said she presented her Nobel Peace Prize medal to President Donald Trump at the White House on Thursday even as he has questioned her credibility to take over her country after the U.S. ousted then-President Nicolás Maduro.

The Nobel Institute has said Machado could not give her prize to Trump, an honour that he has coveted. Even if the gesture proves to be purely symbolic, it was extraordinary given that Trump has effectively sidelined Machado, who has long been the face of resistance in Venezuela. He has signalled his willingness to work with acting President Delcy Rodríguez, who had been Maduro’s second in command.

“I presented the president of the United States the medal, the Nobel Peace Prize,” Machado told reporters after leaving the White House and heading to Capitol Hill. She said she had done so “as a recognition for his unique commitment with our freedom.”

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Trump confirmed later on social media that Machado had left the medal for him to keep, and he said it was an honour to meet her.

“She is a wonderful woman who has been through so much. María presented me with her Nobel Peace Prize for the work I have done,” Trump said in his post. “Such a wonderful gesture of mutual respect. Thank you María!”

The White House later posted a photo of Machado standing next to Trump in the Oval Office as he holds the medal in a large frame. A text in the frame reads, “Presented as a personal symbol of gratitude on behalf of the Venezuelan people in recognition of President Trump’s principled and decisive action to secure a free Venezuela.”

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Trump has raised doubts about his stated commitment to backing democratic rule in Venezuela, giving no timetable on when elections might be held. Machado indicated that he had provided few specifics on that front during their discussion.

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She did not provide more information on what was said.

‘We can count on President Trump’


After the closed-door meeting, Machado greeted dozens of cheering supporters waiting for her near the White House gates, stopping to hug many.

“We can count on President Trump,” she told them without elaborating, prompting some to briefly chant, “Thank you, Trump.”

Before her visit to Washington, Machado had not been seen in public since she travelled last month to Norway, where her daughter received the peace prize on her behalf. She had spent 11 months in hiding in Venezuela before she appeared in Norway after the ceremony.

The jubilant scene after her meeting with Trump stood in contrast to political realities in Venezuela. Rodríguez remains in charge of day-to-day government operations, along with others in Maduro’s inner circle. In her first state of the union speech Thursday, the interim president promoted the resumption of diplomatic ties between the historic adversaries and advocated for opening the state-run oil industry to more foreign investment after Trump pledged to seize control of Venezuelan crude sales.

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Trump says ‘not a thing’ Denmark can do if Russia or China wants to ‘occupy’ Greenland


Trump has said it would be difficult for Machado to lead because she “doesn’t have the support within or the respect within the country.” Her party is widely believed to have won 2024 elections rejected by Maduro.

White House press secretary Karoline Leavitt called Machado “a remarkable and brave voice” but also said the meeting didn’t mean Trump’s opinion of her changed, calling it “a realistic assessment.”

Leavitt told reporters that Trump supported new Venezuelan elections “when the time is right” but did not say when he thought that might be.

A ‘frank and positive discussion’ about Venezuela

Leavitt said Machado had sought the face-to-face meeting without setting expectations for what would occur. She spent about two and a half hours at the White House.

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“I don’t think he needs to hear anything from Ms. Machado,” the press secretary said while the meeting was still going on, other than to have a ”frank and positive discussion about what’s taking place in Venezuela.”

After leaving the White House, Machado went on to a closed-door meeting with a bipartisan group of senators.

Sen. Chris Murphy, D-Conn., said Machado told them that “if there’s not some progress, real progress towards a transition in power, and/or elections in the next several months, we should all be worried.”

“She reminded us that Delcy Rodríguez is, in many ways, worse than Maduro,” he added.

Asked if Machado had heard any commitment from the White House on holding elections in Venezuela, Murphy said, “No, I don’t think she got any commitment from them.”


Click to play video: 'Trump backs Maduro ally in Venezuela, sidelines opposition leader Machado'


Trump backs Maduro ally in Venezuela, sidelines opposition leader Machado


Sen. Bernie Moreno, an Ohio Republican, was exultant following the meeting, saying Machado “delivered a message that loud and clear: What President Trump did was the most important, significant event in Latin America. That getting rid of Maduro was absolutely essential.”

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Machado’s Washington stop coincided with U.S. forces in the Caribbean Sea seizing another sanctioned oil tanker that the Trump administration says had ties to Venezuela. It is part of a broader U.S. effort to take control of the South American country’s oil after U.S. forces captured Maduro and his wife less than two weeks ago at a heavily guarded compound in the Venezuelan capital of Caracas and brought them to New York to stand trial on drug trafficking charges.

Leavitt said Venezuela’s interim authorities have been fully cooperating with the Trump administration and noted that Rodríguez’s government said it planned to release more prisoners detained under Maduro. Among those released were five Americans this week.

Trump said Wednesday that he had a “great conversation” with Rodríguez, their first since Maduro was ousted.

Machado doesn’t get the nod from Trump

Just hours after Maduro’s capture, Trump said of Machado that “it would be very tough for her to be the leader.” Machado had steered a careful course to avoid offending Trump, notably after winning the peace prize, and had sought to cultivate relationships with him and key administration voices like Secretary of State Marco Rubio.

The industrial engineer and daughter of a steel magnate, Machado began challenging the ruling party in 2004, when the nongovernmental organization she co-founded, Súmate, promoted a referendum to recall then-President Hugo Chávez. The initiative failed, and Machado and other Súmate executives were charged with conspiracy.

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A year later, she drew the anger of Chávez and his allies again for travelling to Washington to meet President George W. Bush, whom Chávez considered an adversary.

Almost two decades later, she marshalled millions of Venezuelans to reject Chávez’s successor, Maduro, for another term in the 2024 election. But ruling party-loyal electoral authorities declared him the winner despite ample credible evidence to the contrary. Ensuing anti-government protests ended in a brutal crackdown.



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IMF chief backs Jerome Powell, U.S. Fed independence amid Trump pressure – National TenX News

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International Monetary Fund chief Kristalina Georgieva on Thursday underscored the importance of keeping central banks independent and threw her support behind beleaguered Federal Reserve Chair Jerome Powell, who is facing a Trump administration investigation for renovation cost overruns.

Georgieva told Reuters in an interview that there was ample evidence that central bank independence worked in the interest of businesses and households, and that evidence-based, data-based decision-making is good for the economy.

The IMF managing director said she had worked with Powell and respected his professionalism.

“I have worked with Jay Powell. He is a very good professional, very decent man, and I think that his standing among his colleagues tells the story,” she said, when asked about a letter of support signed by her predecessor, Christine Lagarde, now head of the European Central Bank, and other large central banks.

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Powell on Sunday disclosed that the Trump administration had opened an investigation into him over cost overruns for a $2.5 billion project to renovate two historical buildings at the Fed’s Washington headquarters complex.

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Powell denies wrongdoing and has called the unprecedented actions a pretext to put pressure on him for not bowing to U.S. President Donald Trump’s long-running demands for sharply lower interest rates.


Click to play video: '‘Too late’: Trump slams U.S. fed chair Powell as either ‘incompetent or crooked’'


‘Too late’: Trump slams U.S. fed chair Powell as either ‘incompetent or crooked’


The probe has sparked widespread criticism from some key members of Trump’s Republican Party in the U.S. Senate, which must confirm his nominee to succeed Powell, along with foreign economic officials, investors and former U.S. government officials from both political parties.

Trump has repeatedly derided Powell’s leadership of the Fed and attacked him, often personally, over what he sees as the Fed chair’s slow moves to cut interest rates. On Wednesday, he dismissed concerns that eroding central bank independence would undermine the value of the U.S. dollar and spark inflation, telling Reuters, “I don’t care.”

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Georgieva said the IMF looked carefully at issues such as monetary and financial stability, as well as the strength of a country’s institutions. It was specifically interested in the Fed, given the role of the U.S. dollar as a reserve currency.

“It would be very good to see that there is a recognition … that the Fed is precious for the Americans. It is very important for the rest of the world,” she said.

Trump has also attempted to fire another Fed official, Governor Lisa Cook, who has challenged her termination in a legal case that will be argued before the Supreme Court next week.




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B.C. Premier David Eby says province’s LNG, mining of interest to India TenX News

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B.C. Premier David Eby spoke to reporters on Thursday morning from Mumbai, India, during his six-day trade mission.

He said that mining and energy companies in India are showing an interest in B.C.

“They are looking strongly to LNG as one of their ways of reducing carbon intensity, as well as reducing smog in the country,” Eby said.

“And so B.C. LNG has been an item of considerable interest, especially the projects that are reaching final investment decision over the next year — LNG Canada Phase 2, KSI Lisims LNG — as well as the projects that are under construction like Woodfibre LNG.”


Click to play video: 'B.C. looks to deepen trade ties with India'


B.C. looks to deepen trade ties with India


Eby was also asked about the rise in extortion cases in B.C.

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He said the province’s extortion task force will provide an update next week.

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“We have assembled a remarkable and historic task force, RCMP, CBSA,” Eby said.

“There are more police in Surrey right now than there have ever been. The RCMP has surged resources into the community.”

Eby said he has not been happy with the fact that there has been no update from the task force and he has asked them to provide one.

“There have been some important developments, people deported, an arrest here in India, cooperation between the Indian government and the Canadian government on this at the law enforcement level,” he added.

“That needs to continue, but, bluntly, we need better results, we need to see more arrests and whatever we can do to support the police to get the job done, we will do so.”

As of Jan. 12, Surrey police said there have been 16 reported extortion incidents in the city since the beginning of the year.


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