live Oil tankers ablaze near Iraq after Iranian strikes - Thursday, 12th March
Iran set ablaze two tankers in Iraqi waters as it stepped up attacks on oil and transport facilities across the Mi...
Beijing has warned the Trump administration against restoring steep U.S. tariffs next month and signalled it will retaliate against countries that cut China out of supply chains through bilateral deals with Washington.
The warning, issued through a commentary in the official People’s Daily on Tuesday, follows U.S. moves to reimpose high tariffs on Chinese goods unless a new agreement is reached by 12 August. The commentary urged dialogue and criticised what it called “bullying” tactics by the U.S.
“One conclusion is abundantly clear: dialogue and cooperation are the only correct path,” said the article, published under the pseudonym “Zhong Sheng”, which represents the Chinese Communist Party’s official stance on foreign affairs.
President Donald Trump has begun notifying trade partners of new tariffs due to take effect on 1 August. While most countries were given time to strike agreements, China faces import duties exceeding 100% unless a deal is reached.
The People’s Daily said China must uphold its “principled positions” to defend its rights and warned that Beijing would “respond resolutely” if third-party countries strike tariff deals with the U.S. that undercut Chinese trade.
The comments follow a June agreement between Beijing and Washington that temporarily eased tensions, but many details remain unresolved. The Peterson Institute for International Economics estimates current average U.S. tariffs on Chinese goods at 51.1%, with China’s duties on U.S. products averaging 32.6%.
China also responded to recent moves by regional economies. Last week, Vietnam secured a reduced U.S. tariff of 20%—down from 46%—on certain goods, while Chinese-origin items transshipped through Vietnam face a 40% levy.
The commentary said China “firmly opposes any side striking a deal that sacrifices Chinese interests in exchange for tariff concessions” and warned it would not tolerate arrangements that alter global supply chains to its detriment.
With a new deadline approaching and high tariffs looming, the risk of another full-blown trade dispute remains high. Markets are watching closely to see whether both sides will re-engage or return to retaliatory measures.
The 32 countries belonging to the Internatioanl Energy Agency agreed to release 400 million barrels of oil on Wednesday (11 March), in efforts aimed at bringing down the price of crude oil, which has soared since fighting between Iran, Israel and the U.S. started at the end of February.
U.S. President Donald Trump called his recent phone conversation with Russian President Vladimir Putin “very good.” The two leaders spoke on Monday about the situation in Iran and other international issues.
A towering lava fountain from Kilauea shot about 400 metres into the air late on Tuesday (11 March) on Hawaii Island, prompting temporary closures at Hawaii Volcanoes National Park and part of a key highway as volcanic ash and debris fell over nearby areas.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 10th of March, covering the latest developments you need to know.
Australia has granted humanitarian visas to five Iranian women footballers who sought asylum, fearing persecution after refusing to sing their national anthem at an Asia Cup match.
Britain has deployed the Royal Navy destroyer HMS Dragon to the eastern Mediterranean to strengthen protection for its military assets in the Middle East after a drone strike targeted a key UK air base in Cyprus earlier this month.
Member countries of the International Energy Agency have unanimously agreed to release 400 million barrels of oil from emergency reserves to stabilise global markets disrupted by the war involving Iran.
The annual pro-Palestinian al-Quds Day march in London, scheduled to take place on Sunday, has been banned by Home Secretary Shabana Mahmood following warnings from the Metropolitan Police about the risk of “serious public disorder.”
British Prime Minister Keir Starmer was warned about the "reputational risks" of appointing Peter Mandelson as U.S. Ambassador due to his friendship with convicted sex offender Jeffery Epstein, files released on Wednesday (11 March) show.
At least six people have died after a bus caught fire in Kerzers, Switzerland, in what police say may have been a deliberate act. Witnesses reported a man inside the vehicle set himself alight. Three others were injured and taken to hospital, while authorities continue their investigation.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment