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Chinese Foreign Ministry Spokesperson Hua Chunying. Photo: Artyom Ivanov\TASS via Getty Images

Chinese Foreign Ministry spokeswoman Hua Chunying said on Wednesday that China will respond with "resolute and forceful" measures if the U.S. continues to act in an "arbitrary and reckless manner" on trade, CNBC reports.

The backdrop: In a reversal from the trade war truce that had seemingly been reached days earlier, the White House announced on Tuesday that it will impose a 25% tariff on $50 billion worth of Chinese tech goods. That followed criticism that the Trump administration had backed down without getting concrete concessions from China. Commerce Secretary Wilbur Ross is visiting Beijing over the weekend "to try and get China to agree to firm numbers to buy more U.S. goods," per CNBC.

"We urge the United States to keep its promise, and meet China halfway....When it comes to international relations, every time a country does an about face and contradicts itself, it's another blow to, and a squandering of, its reputation."
— Hua

Go deeper

6 mins ago - World

Abbas announces first Palestinian elections in 15 years

Abbas is 85 and in the 15th year of a 4-year term. Abbas Momani/AFP via Getty

Palestinian President Mahmoud Abbas published a decree on Friday announcing the dates for parliamentary and presidential elections in the Palestinian Authority.

Why it matters: This is the first time in 15 years that such a decree has been published. The last presidential elections took place in 2005, with Abbas winning, and the last parliamentary elections took place in 2006, with Hamas winning.

Updated 13 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — America has tuned out the coronavirus at the peak of its destruction — 1 in 3 people in L.A. County believed to have been infected with coronavirus.
  2. Politics: Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan— Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat — Joe Biden will seek nearly $2 trillion in COVID relief spending.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.
Dan Primack, author of Pro Rata
1 hour ago - Economy & Business

Trump blocks banks from limiting loans to gun and oil companies

Illustration: Sarah Grillo/Axios

Big banks are no longer allowed to reject business loan applicants because of the industry in which they operate, according to a new rule finalized on Thursday by the Trump administration.

Why it matters: Wall Street has curtailed its exposure to industries like guns, oil and private prisons, driven by both public and shareholder pressures. This new rule could reverse that trend.

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