In a sharp escalation of the ongoing trade war between the world’s two largest economies, China on Friday announced a 34% retaliatory tariff on all goods imported from the United States, effective April 10. The move follows the US decision to impose similar steep tariffs on Chinese products earlier this week.

Beijing’s finance ministry confirmed that this additional tariff will be levied on top of the current applicable tariff rates already in place. The announcement marks another chapter in the worsening trade tensions between the two nations, with global economic ramifications.

Rare earth export curbs signal broader pushback

Alongside the tariffs, China’s Commerce Ministry unveiled export controls on seven rare earth elements, including gadolinium and yttrium, which are critical in medical imaging and consumer electronics. The restriction on these materials could impact industries heavily reliant on Chinese supply chains.

The move is widely seen as a strategic countermeasure, given China’s dominance in the global supply of rare earth minerals, which are vital to several high-tech sectors.

Legal battle looms at WTO

Further intensifying the standoff, China announced plans to file a lawsuit with the World Trade Organization (WTO) challenging the US-imposed tariffs. The complaint is aimed at defending China’s trade interests and international rights under WTO regulations.

Triggered by US tariff hike under Trump

This rapid escalation was sparked after US President Donald Trump imposed 10% tariffs on a wide range of imports and introduced additional duties of 34% specifically on Chinese goods. The new tariffs are part of a broader protectionist strategy, but they risk triggering a global trade disruption.

In response, Beijing has vowed to implement “countermeasures” to safeguard its economic interests. The tit-for-tat measures highlight the deteriorating trade relationship and could have lasting impacts on global markets and supply chains.

Veteran Hollywood actor Val Kilmer, known for his powerful performances in blockbuster films like Top Gun, Batman Forever, The Doors, and Heat, passed away at the age of 65 in Los Angeles. His daughter, Mercedes, confirmed he died of pneumonia. Kilmer had previously battled throat cancer, diagnosed in 2014, and had undergone a tracheotomy that affected his voice and limited his screen appearances.

Remembering a multifaceted performer

Born Val Edward Kilmer on December 31, 1959, in Los Angeles, he was the youngest student ever admitted to the prestigious Juilliard School at age 17. Kilmer’s early work in comedies like Top Secret! and Real Genius quickly brought him into the limelight. His career skyrocketed with the role of Iceman in Top Gun (1986), starring opposite Tom Cruise.

Kilmer’s portrayal of Jim Morrison in The Doors (1991) earned acclaim for its intensity and authenticity. His role as Doc Holliday in Tombstone and as part of the ensemble cast in Michael Mann’s Heat further solidified his standing in Hollywood. In 1995, Kilmer stepped into the iconic cape and cowl as Batman in Batman Forever, following Michael Keaton.

Tributes pour in

Filmmaker Michael Mann paid homage, calling Kilmer’s talent “brilliant and variable” and said the news was “tremendously sad.” Actor Josh Brolin remembered him as “smart, brave and uber-creative,” while British actor David Thewlis called him “extraordinary” and a “friend.” Actor Will Kemp and others remembered Kilmer for his generosity and unique presence on set.

US actor Josh Gad credited Kilmer for shaping the films of his childhood, while James Woods lauded his unforgettable performance as Doc Holliday.

A legacy beyond the screen

Kilmer, who married actress Joanne Whalley in 1988 and had two children with her, was also a visual artist, drawing inspiration from his film characters. In 2021, he released Val, a deeply personal documentary composed of decades of personal video footage, showcasing the ups and downs of his career and life post-cancer.

Despite health setbacks, Kilmer made a memorable return to the screen in Top Gun: Maverick (2022), once again portraying Iceman. His brief but emotional appearance was praised by fans and co-star Tom Cruise alike.

Film critics and industry insiders agree: Kilmer was never just another leading man. With an unpredictable, often edgy screen persona, he brought depth and complexity to every role he played.

Iran’s armed forces have positioned missiles capable of hitting US-affiliated sites globally, the Tehran Times reported hours after US President Donald Trump threatened to “bomb” the country in response to nuclear negotiations with Tehran.

The report noted many of these missiles are housed in underground silos across Iran, engineered to withstand airstrikes.

On Sunday, Trump had told journalists that if Iran failed to meet US demands it would face unprecedented bombing. The bombing, Trump, said will be of a scale Iran has never seen before.

He also pointed towards reinstating secondary tariffs on Iran and its trade partners, suggesting that a decision would be made in the following weeks based on Tehran’s response.

The Tehran Times reported that Iran’s military is poised with missiles capable of striking US-related targets amid Trump’s ongoing threats of military intervention if an agreement on the nuclear programme isn’t reached. During his presidency, Trump withdrew from the 2015 Joint Comprehensive Plan of Action (JCPOA), which had placed strict restrictions on Iran’s nuclear activities in exchange for sanctions relief. Trump reaffirmed that his administration remains open to talks, but emphasized that Iran must show its commitment to curtailing its nuclear endeavors.

In response to Trump’s remarks, Iranian President Masoud Pezeshkian addressed the issue through state media. He rejected the idea of direct negotiations with the US but acknowledged the possibility of continuing indirect discussions, facilitated by Oman.

“The supreme leader has also indicated that indirect negotiations can proceed. We do not shy away from negotiations; rather, their unreliability has caused issues for us. They must demonstrate their ability to create trust regarding their decisions, and I hope this will happen,” Pezeshkian was quoted as saying. In summary, tensions are escalating as Iran prepares its military capabilities in response to Trump’s threats, while diplomatic efforts continue on a potentially indirect basis.