Xi Jinping Warns of US-China Trade War

As Donald Trump prepares to return to the presidency, China is ramping up defenses against potential trade conflicts, while signaling aggressive retaliation in response to U.S. technology restrictions. Beijing has opened investigations into U.S. companies and imposed bans on rare earth metal exports, crucial for various industries, including military applications. Chinese President Xi Jinping has cautioned against the inevitability of a trade war, asserting that it would yield no winners. Meanwhile, South Korean President Yoon Suk Yeol faces increasing challenges to his leadership amid impeachment threats and a criminal probe. The ongoing economic tensions are indicative of a broader conflict between the U.S. and China that has implications for global trade dynamics. The potential return of Trump's administration raises concerns about escalating tariffs and further economic decoupling.