China’s Commerce Ministry announced it would pursue legal action against any organization or individual supporting the US in restricting the use of China’s advanced semiconductors, according to Yahoo Finance. This statement follows a fragile US-China trade truce established earlier in May, which had temporarily reduced tariffs on Chinese imports from 145% to 30% and on US goods from 125% to 10% for 90 days. The truce aimed to ease tensions, but recent developments indicate renewed friction, with China emphasizing the need for multilateralism to resolve global trade issues. Meanwhile, the Port of Los Angeles reported a 30% drop in shipments for May, reflecting the broader impact of tariff uncertainties on trade flows. Both nations continue to navigate complex trade dynamics, with China advocating for dialogue to strengthen bilateral relations.
34news.online
34news.online
