Reported about 23 hours ago
China has lodged a formal complaint with the WTO regarding the recent US tariffs, claiming they breach WTO rules and seeks consultations. In response, China imposed a 34% tariff on US goods, escalating the trade war amid fears of a recession. Additionally, China has announced export controls on essential rare earth minerals, further heightening tensions as the US faces increased tariffs totaling 54%. The WTO has acknowledged receipt of China's complaint, with potential for adjudication if no resolution is reached within 60 days.
Source: YAHOO