U.S. President-elect Donald Trump and Chinese President Xi Jinping discussed issues including TikTok, trade and Taiwan in a phone call on Friday, just days before Trump takes office again promising tariffs that could ratchet up tensions between the world's two biggest economies.

President-elect Donald Trump said he spoke on the phone with Chinese President Xi Jinping about TikTok, fentanyl, trade and more.

Correcting the major imbalances in the global economy will require collaborative international action. If he wants results, Trump will need to rein in his penchant to go it alone.

Bloomberg reporters answer questions about how Trump’s promises to raise tariffs on China could lead to a trade war with global consequences.

China’s vast exports in 2024 exceeded its imports on a scale seldom seen anywhere except during or immediately after the two world wars.

On the eve of Donald Trump’s White House return, the Chinese government announced that last year it recorded a trade surplus of almost $1 trillion, a third of which was with the US.

Even before Donald Trump takes office on Monday, trade tensions between the world’s biggest economies are already heating up.

Trade between the world’s two largest economies is on the brink of chaos again. The outgoing Biden administration has turned up the heat in its final days, handing Trump a loaded gun in the form of sweeping restrictions directed at Beijing.