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China has raised its import tariffs on U.S. goods to 125% in retaliation to a recent hike in levies imposed by President Donald Trump, according to Bloomberg News.
Chinese carrier Juneyao Airlines is refusing to take delivery of a Boeing 787-9, which it is expected to acquire. This decision is being made due to ongoing political tensions.
The Trump administration is drafting an executive order to enable the stockpiling of deep-sea metals to counter China’s dominance in battery minerals and rare earth supply chains, the Financial Times reported on Saturday, citing people familiar with the matter.
Under the plans, the stockpile would "create large quantities ready and available on U.S. territory to be used in the future", in case of a conflict with China that might constrain imports of metals and rare earths, the report added.
China's trade surplus rose to $102.64 billion in March, down from $170.51 billion in February, beating expectations, the country's General Administration of Customs said in its report published on Monday.
Exports increased by 12.4% compared to the same month in the previous year. Meanwhile, imports dropped by 4.3% year-on-year.