China firmly opposes the Philippines' Maritime Zones Act, which it says "severely infringes on" the its territorial sovereignty and maritime rights in the South China Sea, the Chinese foreign ministry said on Sunday in a statement.

Fearing a U.S. tariff barrage, Beijing hopes to use “proactive” tariff cuts and investment offers to peel away American partners in Europe and Asia.

Donald Trump is preparing to implement the most extensive tariffs in a century, and some of these tariffs are intended to serve as bargaining chips in trade negotiations, writes "The Washington Post." The newspaper adds that the introduction of a universal basic tariff is unlikely.