U.S. President Donald Trump's global trade war has rattled financial markets and raised fears of a recession, particularly as tit-for-tat tariffs between the world's two biggest economies threaten to upend supply chains and a whole range of industries.

Trump’s barrage of tariffs against global trading partners has reverberated around the United States over the past few months, affecting the livelihoods of myriad Americans, including many who said they voted for him.

Investors were also keeping tabs on China after President Xi Jinping and other top leaders last week discussed plans to boost consumption in the world's number two economy.

Beijing has acknowledged that global economic vicissitudes have strained its economy, long dependent on exports

Across the country, car models rolling off assembly lines like this have gone from concept to release in record time -- known in the industry as "China Speed", the envy of foreign competitors.

Toyota Chairman Akio Toyoda and his founder family have proposed acquiring Toyota Industries in a possible 6 trillion yen ($42 billion) deal.

President Xi Jinping said China must “overcome” the challenges of developing core AI technologies including high-end chips, state media reported yesterday, as Beijing seeks to become a world leader in the rapidly developing industry.

In a chair's statement, the IMF's steering committee also reaffirmed prior foreign exchange commitments and voiced support for a realignment of quotas, or shareholding, that better reflects countries' positions in the global economy.

Respondents cited "changes in government spending priorities and the extent of US international engagement" as driving uncertainty.

"China and the US are NOT having any consultation or negotiation on #tariffs," China shot back in a foreign ministry statement posted by the Chinese Embassy in the US.

Local operator Saif Powertec Ltd is currently operating the port's New Mooring Container Terminal

But in Vietnam's northern industrial Bac Ninh province, Chinese businesses that AFP interviewed -- most of whom are linked to the export supply chain -- said investors were hesitating and anxiety was widespread.

Sales of the sleek machines fell 45 percent to just over 36,000 units in the first quarter of 2025 in EU

The United States was Vietnam's biggest export market in the first three months of the year.

Trump told reporters his country would have a "fair deal with China," adding that "everything's active" when asked if Washington was talking to Beijing.

The European Union Chamber of Commerce in Bangladesh (EuroCham) urged the interim government to avoid discrimination against companies based in the bloc as Bangladesh weighs up substantial trade concessions for the United States.

Just 37% of respondents to the six-day poll approve of Trump's handling of the economy

The EU also fined Meta 200 million euros over its "pay or consent" system after it violated rules on the use of personal data on Facebook and Instagram.

The fierce trade war between the world's top two economies has rattled markets and raised fears of a global recession.

Trump also reiterated he wanted to do a deal with China where tariffs would not be anywhere near 145 percent, adding that he would set the terms of a deal if Beijing did not enter talks