China says it's making a "full assessment" of the U.S. Supreme Court's tariff ruling and urged Washington to lift "relevant unilateral tariff measures" on its trading partners, the Chinese commerce ministry said in a statement on Monday (23 February).
"U.S. unilateral tariffs ... violate international trade rules and U.S. domestic law, and are not in the interests of any party," the Chinese ministry added.
The ministry said it noticed the U.S. planned to maintain tariffs on trading partners through alternative means including trade investigations.
"China will continue to pay close attention to this and firmly safeguard its interests," the ministry said.
Meanwhile, Hong Kong stocks jumped on Monday, led by tech and mainland shares listed in the city, after the U.S. Supreme Court ruling.
China should see the largest tariff reduction as it faces the highest tariff rates at the outset, declining to 24% from 32%, according to analysts at Morgan Stanley.
President Trump will travel to China from 31 March to 2 April for a highly anticipated meeting between the leaders of the world's two biggest economies.
The developments come as the Supreme Court ruled 6-3, Friday (20 February), that President Trump had exceeded his authority in imposing broad tariffs under an economic emergency law.
Within hours, President Trump announced a temporary 10% tariff on almost all imports, which he then raised to 15% on Saturday.
Trump's planned new levies are grounded in a separate but untested law, known as Section 122, that allows tariffs up to 15% but requires congressional approval to extend them after 150 days. No president has previously invoked Section 122, and its use could lead to further legal challenges.
Meanwhile, the U.S. Customs and Border Protection agency said it will halt collections of tariffs imposed under the International Emergency Economic Powers Act (IEEPA) at 12:01 a.m. EST (0501 GMT) on Tuesday, more than three days after the U.S. Supreme Court declared the duties illegal.
The IEEPA tariff collection halt coincides with Trump's imposition of a new, 15% global tariff under a different legal authority to replace the ones struck down by the Supreme Court on Friday.
The European Parliament’s trade chief has urged a temporary suspension of the EU–U.S. trade agreement approval, citing “tariff chaos” followin...
Further Iran-U.S. nuclear talks are scheduled in Geneva on Thursday (26 February) as diplomacy resumes over Tehran’s nuclear programme following ear...
China says it's making a "full assessment" of the U.S. Supreme Court's tariff ruling and urged Washington to lift "relevant unilateral tariff measures...
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 23rd of February, covering the latest developments you need to...
A “Victory will be ours” banner was hung on the Russian Embassy in Seoul, ahead of the fourth anniversary of Russia’s full-scale invasion of Ukr...
The European Parliament’s trade chief has urged a temporary suspension of the EU–U.S. trade agreement approval, citing “tariff chaos” following President Donald Trump’s new 15% tariffs and a U.S. Supreme Court ruling invalidating his previous global tariff programme.
Further Iran-U.S. nuclear talks are scheduled in Geneva on Thursday (26 February) as diplomacy resumes over Tehran’s nuclear programme following earlier mediation efforts. But will the talks move Iran-U.S. negotiations closer to a deal, and what should be expected from the meeting?
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 23rd of February, covering the latest developments you need to know.
A “Victory will be ours” banner was hung on the Russian Embassy in Seoul, ahead of the fourth anniversary of Russia’s full-scale invasion of Ukraine. It remains on display despite a request from the South Korean Foreign Ministry on Sunday (22 February) for its removal, sparking widespread criticism.
A seven-month-old Japanese macaque has drawn international attention after forming an unusual bond with a stuffed orangutan toy after being rejected by its mother.
Divers have recovered the bodies of seven Chinese tourists and a Russian driver after their minibus broke through the ice of on Lake Baikal in Russia, authorities said.
President Donald Trump said on Saturday (21 February) that he will raise temporary tariffs on nearly all U.S. imports from 10% to 15%, the maximum allowed under the law, after the Supreme Court struck down his previous tariff program.
Pakistan said it carried out cross-border strikes on militant targets inside Afghanistan after blaming a series of recent suicide bombings, including attacks during the holy month of Ramadan, on fighters it said were operating from Afghan territory.
Iran announced on Saturday (21 February) that it has designated the naval and air forces of European Union member states as “terrorist entities” in a reciprocal move after the EU blacklisted the Islamic Revolutionary Guard Corps (IRGC).
Further Iran-U.S. nuclear talks are scheduled in Geneva on Thursday (26 February) as diplomacy resumes over Tehran’s nuclear programme following earlier mediation efforts. But will the talks move Iran-U.S. negotiations closer to a deal, and what should be expected from the meeting?
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 23rd of February, covering the latest developments you need to know.
A “Victory will be ours” banner was hung on the Russian Embassy in Seoul, ahead of the fourth anniversary of Russia’s full-scale invasion of Ukraine. It remains on display despite a request from the South Korean Foreign Ministry on Sunday (22 February) for its removal, sparking widespread criticism.
North Korea’s Workers' Party of Korea has re-elected Kim Jong Un as general secretary during the party congress in Pyongyang state media reported.
The European Parliament’s trade chief has urged a temporary suspension of the EU–U.S. trade agreement approval, citing “tariff chaos” following President Donald Trump’s new 15% tariffs and a U.S. Supreme Court ruling invalidating his previous global tariff programme.
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