China–United States economic relations

The European Union is open to discussing purchases of energy and arms from the United States to ward off tariffs that President Donald Trump has threatened to impose on the bloc, EU's top economy official has said.

Trump has vowed to address a long-running deficit in goods trade with the EU, either through tariffs of more oil and gas exports.

U.S. President Donald Trump announced plans to impose tariffs on the European Union, citing trade imbalances with the U.S. He criticized the EU for not importing enough American goods and vowed to "straighten that out" by enforcing tariffs or pushing for increased purchases of oil and gas.

Presidents Joe Biden and Xi Jinping managed to keep US-China tensions contained in 2024, but when Donald Trump strides back into the White House later this month, he will break this fragile stability, driving an unmanaged decoupling of the world's most important geopolitical relationship and increasing the risk of global economic disruption and crisis.

A Chinese official walks by the China and U.S. national flags before a meeting between Commerce Secretary Gina Raimondo and Chinese Minister of Commerce Wang Wentao at the Ministry of Commerce in Beijing on Aug. 28, 2023

President-elect Donald Trump referred to Canadian Prime Minister Justin Trudeau as the "Governor of the Great State of Canada" during a post on Truth Social, making light of their recent meeting. Trump expressed optimism about future discussions with Trudeau, suggesting they would lead to "spectacular" outcomes on trade and tariffs.

U.S. President-elect Donald Trump said that he intends to impose sweeping tariffs on goods from Mexico, Canada and China, prompting a swift warning from Beijing that "no one will win a trade war."

In a series of posts to his Truth Social account, Trump vowed to hit some of the United States' largest trading partners with duties on all goods entering the country.

According to a Reuters poll of over 50 economists conducted between November 13-20, the U.S. under President-elect Donald Trump could impose tariffs on Chinese imports nearing 40% by early 2025. This potential move is expected to significantly impact China's economy, with forecasts suggesting a reduction in growth by up to 1 percentage point.

EU countries are wavering over whether to back additional tariffs on Chinese-built electric vehicles, highlighting Brussels' challenge in building support for its largest trade case yet as Beijing threatens wide-ranging retaliation.

The European Union has warned it would slap additional tariffs of up to 38 percent on Chinese electric car imports from next month after an anti-subsidy probe, a move that risks provoking a bitter trade war.

Brussels angered Beijing by launching the investigation last year in a bid to defend European manufacturers in the face of a surge of cheaper Chinese imports.

The foreign trade deficit declined by 44.2 percent in February from a year ago, data from the Turkish Statistical Institute (TÜİK) has shown.

The country's exports rose by 13.6 percent year-on-year to $21.08 billion, while imports plunged 9.2 percent to $27.85 billion, leading to a foreign trade deficit of $6.77 billion.