Xi Gives Back-To-Back Shocks To Trump; After Tariff Retaliation, China Makes Bold TikTok Move On US

In a second blow to the US in two days, China reportedly paused an impending deal with the US over the ownership of short-video sharing app TikTok. China’s decision followed Donald Trump’s move to impose reciprocal tariffs on trade partners, including China. Trump levied 34% tariffs on Chinese imports, with Beijing retaliating by levying the same amount on US imports. The ownership of TikTok has been a contentious issue in the US, as the Congress has called for it to be banned unless the company divests from its Chinese parent company.