“ECONOMIC BULLYING”
According to Commerce Department statistics, the US exported US$ 144.6 billion in products to China in 2024, which is significantly less than the US$ 439.7 billion it imported.
Important industries included in its exports include electrical and electronic equipment, as well as oilseed and grains, and several fuels.
Beijing’s foreign government on Monday condemned what it called Washington’s “typical unilateralism, isolationism, and economic harassment.”
According to spokesman Lin Jian,” the US is seeking ideology in the name of cooperation, sacrificing the reasonable interests of all countries to provide its own selfish interests, and prioritizing the US over global rules.”
In response to the battle, a flood of selling hit the trading floors on Monday.
No field was unharmed in Asia as a result of the marketing, with tech companies, car manufacturers, banks, casinos, and power companies all feeling the pain as investors abandoned more risky assets.
Alibaba, one of the biggest losers, lost more than 14 %, while Sony, a rival, lost 13 %, and SoftBank, a Japanese tech investment monopoly, lost over 10 %.