2025-04-04
26 分钟Hello, and welcome to World Business Report from the BBC World Service.
I'm Rob Young.
On this edition, the trade war between the world's two biggest economies has escalated.
China says it will retaliate to America's retaliatory tariffs.
Financial markets have fallen sharply in response.
You'll get the latest from the trade conflict over the next half an hour.
Well, the corporate and financial worlds are still reeling from the global trade war,
sparked by President Trump's announcement of import taxes on almost everything that enters the United States from almost everywhere.
One of the most important trading relationships there is that between China and the United States has become even more strained,
as if that were even possible.
China has today hit back hard, retaliating to a US decision to impose further tariffs on Chinese goods.
Beijing has announced additional tariffs of 34% on American products, matching Washington's latest move.
Financial markets are sharply lower again on Friday as a result amid fears
that a global tit-for-tat trade conflict will lead to company profits tumbling and a recession in the world's biggest economy.
Speaking in Brussels after a meeting of NATO foreign ministers,
the US Secretary of State Marco Rubio defended the Trump administration's strategy.
Markets are crashing
because markets are based on the stock value of companies who today are embedded in modes of production that are bad for the United States.
We have to be a country where the largest consumer market in the world and yet the only thing we export is services and we need to stop
that.