What happened with global stock markets April 7, 2025

Experts say Beijing is unlikely to back down, after President Donald Trump threatened to raise tariffs on China if Beijing does not withdraw its retaliatory tariffs.

“At this point, it is extremely unlikely for China to back down,” said Yun Sun, director of the China program at the Washington-based think tank Stimson Center, adding any leadership summit between Trump and Chinese President Xi Jinping “doesn’t appear likely in the near future.”

“China is increasingly convinced that the tariff is not negotiable because Trump’s eventual goal is to bring manufacturing jobs back to . . .