China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% — the latest salvo in an escalating trade war between the world’s two largest economies.

Dubai's stock market slipped on Friday, weighed down by investor concerns over the rapidly intensifying U.S.-China trade war and its potential economic impact, although the Abu Dhabi index finished higher.

Chinese leader Xi Jinping has said his nation is “not afraid” in his first public comments on the escalating trade war with the US that has tanked international markets and fueled fears of a global recession.

The top U.S. commander in the Pacific warned senators Thursday that the military support that China and North Korea are giving Russia in its war on Ukraine is a security risk in his region as Moscow provides critical military assistance to both in return.

China is delaying approval for plans by Chinese automakers Geely (GEELY.UL) and BYD to produce cars in Latin America as U.S. tariffs fuel trade and economic uncertainties, two people with knowledge of the matter said.

Untangling the two economies has profound implications for businesses and consumers in both countries, as well as the rest of the world.

Panama promotes itself “as the bridge of the world, heart of the universe” but lately the narrow Central American Isthmus and its namesake canal that joins the Atlantic to the Pacific have become the setting for a bitter clash between the world’s two preeminent economic superpowers.

U.S. chipmakers which outsource manufacturing will be exempt from China's retaliatory tariffs on U.S. imports, according to a notice by the main Chinese semiconductor association on Friday. Given the highly specialized and multi-country nature of chip supply chains,