Spiking trade uncertainty is compounding rising debt and sluggish growth problems facing emerging markets and developing countries, but cutting their own tariffs could provide a big boost, said Indermit Gill, the World Bank's chief economist.

China is reportedly conducting a global diplomatic campaign to oppose President Donald Trump’s new trade deals with US allies. According to a Bloomberg report on Tuesday, Beijing is trying to reframe itself as a global rules-based order defender and make other countries see Washington as an unreliable trading partner.

China on Tuesday vowed it would “never kneel down” in the face of President Trump’s tariff pressure, painting itself as a champion for the international community.

China’s top diplomat warned countries against caving in to US tariff threats, as the Trump administration hints at the possible use of new trade tools to pressure Beijing.

Amid the ongoing tariff war with the United States, the Chinese foreign ministry posted a video titled 'Never Kneel Down' on social media calling the international community to stand up to America's 'bully' behaviour under President Donald Trump.

Washington’s hardline approach is likely to boost Beijing’s ties with Brazil and Latin America in general, according to analysts.

"You don't know whether or not China's going to eat it," Trump said of the potential for tariffs on Chinese goods to increase consumer prices.

China’s economy showed its first big signs of damage from the trade war, as steep U.S. tariffs pummeled export orders and production at the country’s factories. A gauge of new export orders fell in April to its lowest reading since Covid-19 was ravaging the country in 2022,