The sweeping tariffs threatened or already imposed by US President Donald Trump risk triggering inflation, market distortions, and even a global recession, China said Tuesday at the World Trade Organization.

U.S. Defense Secretary Pete Hegseth has asked some parts of the military to propose what could be cut as part of a potential 8% spending reduction for them over each of the next five years, U.S. officials said on Wednesday, although it was unclear if the total defense budget would shrink.

Beijing sees US unilateralism as a threat to global trade, fuelling inflation, market imbalances, and recession risks.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world US President Donald Trump said a fresh trade deal with China was possible,