Fearing a U.S. tariff barrage, Beijing hopes to use “proactive” tariff cuts and investment offers to peel away American partners in Europe and Asia.

Donald Trump is preparing to implement the most extensive tariffs in a century, and some of these tariffs are intended to serve as bargaining chips in trade negotiations, writes "The Washington Post." The newspaper adds that the introduction of a universal basic tariff is unlikely.

Indonesia's new leader has called for collaboration rather than confrontation with China. President Prabowo Subianto made the remarks at a business forum in Beijing on Sunday after the signing of $10 billion in investment deals with Chinese companies.

Chinese President Xi Jinping told his Indonesian counterpart that Beijing hopes for a "new chapter" in bilateral relations, as the two leaders met on Saturday.

Fashion house Steve Madden says it will reduce the goods it sources from China to limit exposure to potential tariffs under the incoming Trump administration. Steve Madden, which makes trendy footwear,

The footwear- and accessory-maker says it already has a plan in place to reduce its reliance on imports from China.