Business
China says it will ‘fight to the end’ after Trump’s fresh tariff warning
A delivery man prepares his goods at the Financial Street area in Beijing, China, Tuesday, April 8, 2025. (AP)
BEIJING, April 8, (AP): China said Tuesday it would “fight to the end” and take countermeasures against the United States to safeguard its own interests after President Donald Trump threatened an additional 50% tariff on Chinese imports.
The Commerce Ministry said the U.S.‘s imposition of “so-called ‘reciprocal tariffs’” on China is “completely groundless and is a typical unilateral bullying practice.” China has taken retaliatory tariffs and the ministry hinted in its latest statement that more may be coming.
“The countermeasures China has taken are aimed at safeguarding its sovereignty, security, and development interests, and maintaining the normal international trade order. They are completely legitimate,” the ministry said.
“The U.S. threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the US. China will never accept this. If the US insists on its own way, China will fight to the end.”
Trump’s threat Monday of additional tariffs on China raised fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war. Stock markets from Tokyo to New York have become more unstable as the tariff war worsens.
Trump’s threat came after China said it would retaliate against U.S. tariffs he announced last week.
“If China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th,” Trump wrote on Truth Social.
“Additionally, all talks with China concerning their requested meetings with us will be terminated!”
If Trump implements his new tariffs on Chinese products, U.S. tariffs on Chinese goods would reach a combined 104%. The new taxes would be on top of the 20% tariffs announced as punishment for fentanyl trafficking and his separate 34% tariffs announced last week.
Not only could that increase prices for American consumers, it could also give China an incentive to flood other countries with cheaper goods and seek deeper relationships with other trading partners, particularly the European Union.
Trump frequently bragged about stock market gains during his first term, and the threat of losses on Wall Street was viewed as a potential guardrail on risky economic policies in his second term. But that hasn’t been the case, and Trump has described days of financial pain as necessary.
“I don’t mind going through it because I see a beautiful picture at the end,” he said. Trump officials have frequently appeared on television to make the case for his policies, but none of their explanations has calmed the markets.
The only improvement came from a false report that top economic adviser Kevin Hassett said Trump was considering a pause on all tariffs except for China. Stock prices spiked before the White House denied it was true by calling the post “fake news.”
China is one of the U.S.’s top trading partners, especially for consumer goods, and the tariffs – essentially a tax on imports paid by U.S. companies – will eventually be passed on to the consumer.
Federal Reserve Chair Jerome Powell warned Friday that the tariffs could increase inflation, and he said, “There’s a lot of waiting and seeing going on, including by us,” before any decisions would be made.
European Commission President Ursula von der Leyen said the European Union would focus on trade with other countries besides the United States, saying there are “vast opportunities” elsewhere.
U.S. total goods trade with China were an estimated $582 billion in 2024, making it the top trader in goods with the U.S. The 2024 deficit with China in goods and services trade was between $263 billion and $295 billion.
Kuwait enhances Stock Exchange access for emerging firms with amendments to listing rules.
KUWAIT CITY, July 1: Kuwait’s Capital Markets Authority (CMA) has officially launched a new regulatory environment to support the listing and trading of emerging companies on the Kuwait Stock Exchange (KSE), in cooperation with Boursa Kuwait. The initiative includes the creation of a dedicated platform for these companies, alongside key amendments to existing listing rules.
In a statement released on Tuesday, the CMA confirmed that the move is part of broader efforts to adopt international best practices, promote capital market development, diversify investment tools, and enhance both market competitiveness and transparency — all aimed at bolstering investor protection.
The approved amendments focus on strengthening listing standards by requiring companies to maintain certain conditions, including minimum thresholds for free float shares and their market value. These measures are designed to improve liquidity and ensure sustained compliance with regulatory obligations.
The Authority emphasized that supporting emerging companies is crucial to driving economic growth and aligns with Kuwait’s broader strategic vision. The newly launched market will offer an attractive financing environment for smaller and growing enterprises while providing investors with fresh opportunities governed by high transparency standards.
The regulatory framework is the result of a comprehensive study conducted by the CMA, which formed the basis for drafting specific rules to govern the emerging companies market. The platform is intended to serve as both a support system for these businesses and a dynamic investment space in line with global benchmarks.
The CMA also underscored the importance of continuously evolving the rules that govern listing conditions. This includes safeguarding investor interests by removing companies that fail to meet their obligations and ensuring adequate liquidity by enforcing minimum requirements for free float shares in both the primary and secondary market segments.
Additionally, the Authority reaffirmed its commitment to enhancing executive regulations that protect investors and empower small shareholders to actively participate in corporate decision-making processes.
This latest move is seen as a significant step toward further modernizing Kuwait’s financial sector and creating a more inclusive and diversified capital market landscape.
The Kuwait government approves tougher measures to tackle financial crimes.
KUWAIT CITY, June 30: Kuwait is intensifying efforts to combat money laundering and terrorist financing by enhancing its legislative framework, announced Minister of Finance and Minister of State for Economic Affairs and Investment Noura Al-Fassam on Monday.
The minister spoke in a statement issued by the Ministry of Finance following the publication of Decree Law No. (76) of 2025 in the official gazette, Kuwait Today. This decree introduces important amendments to Law No. (106) of 2013, reflecting Kuwait’s integrated government efforts to strengthen measures against financial crimes.
During the Cabinet meeting on June 17, the draft of the amended decree law was approved, underlining Kuwait’s commitment to raising the effectiveness of the national response to money laundering and terrorism financing. The amendments align with the requirements of the Financial Action Task Force (FATF) and relevant international standards.
The new decree law includes two significant amendments:
- Article One replaces Article (25) of Law No. (106) of 2013, empowering the Council of Ministers, upon the recommendation of the Minister of Foreign Affairs, to issue necessary decisions to implement United Nations Security Council resolutions related to terrorism, terrorism financing, and the proliferation of weapons of mass destruction under Chapter VII of the UN Charter. These decisions will take effect immediately upon issuance, consistent with Security Council Resolution No. 1373 of 2001. The executive regulations will define the rules for publishing these decisions, appealing them, authorizing the release of frozen funds for essential living expenses, and managing such assets.n
- Article Two adds a new Article (33 bis) to Law No. (106) of 2013, stating that any violation of decisions issued under Article (25) will result in fines ranging from 10,000 to 500,000 Kuwaiti dinars per violation. This penalty complements any additional sanctions imposed by regulatory authorities on financial institutions or designated non-financial businesses.n
The Ministry emphasized that these amendments support the National Committee for Combating Money Laundering and Terrorism Financing by broadening its powers to apply targeted financial sanctions in compliance with FATF standards. This includes the mandatory freezing of assets belonging to individuals and entities listed locally as terrorists, effective immediately upon decision issuance.
Furthermore, the amendments enable the Committee to impose fines on violators and require publishing the national list of designated terrorists on the Committee’s official website, enhancing transparency and meeting international obligations.
Minister Al-Fassam concluded that the updated legislative measures reaffirm Kuwait’s strong commitment to fighting financial crimes, safeguarding national security and stability, and fulfilling its global responsibilities.
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