Story perspectives

China Warns of Retaliation Amid Rising Gas Prices

4/15/2026

Summary

Story summary

China warns of countermeasures as gasoline prices in China rise about 11% since the Strait of Hormuz closure.
U.S. President Donald Trump said he would impose a 50% tariff on China if it aids Tehran.
U.S. intelligence reports suggest China may supply air defense systems.
Foreign Ministry spokesman Guo Jiakun dismissed the claims as fabricated.
Analysts note China and Iran lack a formal military pact despite strong economic ties.

History

Historical Context

The U.S.-China trade war began in January 2018 when President Trump imposed tariffs to address alleged unfair trade practices, leading to retaliatory measures from China. By late 2019, the U.S. had imposed approximately $350 billion in tariffs, significantly impacting both economies. As of 2023, tensions persist, with rising gasoline prices in China and military support for Iran complicating U.S.-China relations and threatening global market stability.

1 of 2

Story summary

China warns of countermeasures as gasoline prices in China rise about 11% since the Strait of Hormuz closure.
U.S. President Donald Trump said he would impose a 50% tariff on China if it aids Tehran.
U.S. intelligence reports suggest China may supply air defense systems.
Foreign Ministry spokesman Guo Jiakun dismissed the claims as fabricated.
Analysts note China and Iran lack a formal military pact despite strong economic ties.

1 / 2