The US government is planning to impose floor prices on a series of strategic industries to ensure fair competition in the market.

China’s Commerce Minister Wang Wentao on Thursday blamed the recent escalation in trade tensions with the US on American actions following the latest bilateral round of talks in Madrid last month.

Vietnam's wood industry expects the US to maintain a 25% tax rate and avoid increasing it to 50% from 2026 to maintain exports and balance trade interests between the two sides.

The US is now collecting tariffs on imported timber, lumber, kitchen cabinets, bathroom vanities and upholstered furniture, duties that threaten to raise the cost of renovations and deter new home purchases.

US President Donald Trump said on Tuesday Washington was considering terminating some trade ties with China, including in relation to cooking oil.

The United States and China on Tuesday began charging additional port fees on ocean shipping firms that move everything from holiday toys to crude oil, making the high seas a key front in the trade war between the world's two largest economies.

The European Union is considering forcing Chinese firms to hand over technology to European companies if they want to operate locally, in an aggressive new push to make the bloc’s industry more competitive.

European Union officials called for strong measures against China after Beijing imposed fresh export restrictions on rare minerals used in computer chips and other advanced technologies.

US President Donald Trump on October 14 once again criticized China, saying that the country is "intentionally" not buying US soybeans and that he is considering "retaliatory" measures.

Beijing defends its new rare earth export curbs and warns its readying “corresponding measures” to counter any new U.S. tariffs.