The trade war between Washington and Beijing is showing no signs of easing
China's 84% tariff on all U.S. imports has taken effect. The government has also announced it will reduce the number of American movies shown here
the world's second largest film market. China does not want a trade war, but we are not afraid of one
U.S. President Donald Trump raised trade taxes on Chinese goods to 125%
At the same time, he paused so-called reciprocal tariffs on other countries for 90 days
ysts say it's clear Washington is trying to isolate Beijing. Trump's overriding objective remains unchanged
He wants to take a sledgehammer to the rules-based global trade system
and he wants to confront China forcefully. Despite the escalation, China's financial markets closed higher on Thursday
The Shanghai and Shenzhen were up between 1 and 2 percent, while Hong Kong's Hang Seng also rose 2 percent
Beijing's state funds have poured billions of dollars into stabilizing stock markets
Senior leaders are reportedly meeting this week to discuss measures to bolster the economy and employment
It's pure pain. There's really no gain so far in this tariff war
We're going to see a lot of bankruptcies in SMEs and that will be a big pressure for the labor market
Chinese manufacturers are holding their breath. Many orders have already been suspended or cancelled
Some shipments to the US have reportedly been ditched mid-voyage to avoid the crushing duties
Beijing has condemned the additional US tariffs, but says its door remains open to negotiation
as long as any dialogue is based on mutual respect. Chinese social media users say US President Trump
is disrespecting their country and targeting it unfairly. Nationalistic posts supporting the government's countermeasures have gone viral