China rejected Philippine maritime claims on Sunday, saying new legislation "severely infringes on" Beijing's territorial sovereignty and rights in the South China Sea, and vowing to protect its own interests.

The EU does not want a trade war with Beijing but five years of talks have yielded no real progress, the bloc's ambassador to China said on Saturday, adding that concern was growing over Chinese market access for European medical devices.

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.