Estonia detained the oil tanker Kiwala, a vessel linked to Russia’s so-called shadow fleet, which is used to export crude oil and oil products to third countries, on the morning of 11 April.
Rather than calling Trump to negotiate tariffs, Xi has instead launched a week of high-stakes diplomacy with other trade partners to push back against the escalating trade war.
China’s President Xi just broke his silence on the U.S trade war mess, making it crystal clear: Beijing’s not begging, and definitely not blinking.
“This is not just a social issue: it is a moral and spiritual crisis. We call on the nation to stand together in protecting the vulnerable and ensuring justice prevails.”
“The yuan’s drop reflects ongoing concerns about the prolonged trade conflict,” said an economic analyst.
“Trump has kick-started America’s downfall – and handed the world to China,” said foreign affairs analyst David Rothkopf.
“We welcome this decision, which gives us a window to negotiate,” an EU official said.
That pause, and “a substantially lowered Reciprocal Tariff during this period, of 10%,” are both “effective immediately,” Trump writes.
Russia has accused the US of flouting international trade rules by imposing 104% charges on imports from China.
