Tariff crisis Trump's tariff policy

China wants to mend relations with the US: "Take responsibility"

Chinese Commerce Minister Wang Wentao is urging the US to behave in a manner worthy of its status as a great power. He said this at a press conference that, among other things, deals with the status of the Chinese economy, several news agencies report.

- Big countries should act like big countries. They must take responsibility.

Wang says that China's economy is improving but that it is facing a "very serious and complex situation". China wants commercial relations with the US to return to healthy and sustainable development.

- There are no winners in a trade war. China does not want a trade war but we are not afraid of one, says Wang.

Sources: Trump demands at least 15 percent EU tariffs

Donald Trump wants a future trade agreement with the EU to include tariffs of 15-20 percent as a minimum on all goods. This is what sources tell the FT.

Trump is said to be unmoved by the EU's latest offer to lower car tariffs. Instead, he intends to maintain the sector-specific tariff rate of 25 percent as planned.

According to the sources, the president has tightened his stance in order to test the EU's pain threshold, after several weeks of negotiations in which a framework agreement with a 10 percent tariff level was discussed as a baseline.

A US official confirms that the White House is considering a higher tariff level than the 10 percent previously discussed - even if an agreement were to be reached.