China's Ministry of Commerce announced it is pursuing legal remedy against the U.S. in a brief statement on its website — the latest in an escalating trade conflict between the world's two largest economies.
French President Emmanuel Macron has used his speech to the joint houses of the US Congress to denounce nationalism and isolationism as threats to global prosperity. The speech was widely interpreted as a thinly veiled attack on President Donald Trump's America First agenda.
The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to diffuse the threat of a trade war days before U.S. metals tariffs take effect and Washington is to announce measures against China. Finance ministers and central bankers of the world’s 20 biggest economies, which represent 75% of world trade and 85% of global gross domestic product, discussed trade disruptions as a risk to growth at a two-day meeting.