BEIJING, China — Trade tensions between the world’s two leading economies are set to escalate on Monday, as Beijing begins levying tariffs on certain US agricultural goods in retaliation for President Donald Trump’s latest hike on Chinese imports.

The leaders of both Canada and Mexico got on the phone with President Donald Trump this past week to seek solutions after he slapped tariffs on their countries, but China’s president appears unlikely to make a similar call soon.

Consumer prices fell in China in February for the first time in 13 months, as persistent weak demand was compounded by the early timing of the Lunar New Year holiday.

China's consumer inflation in February fell at the quickest pace since January 2024, while producer price deflation persisted, as seasonal demand faded while households are still cautious about spending amid job and income worries.

Consumer prices in China fell last month for the first time in a year, with authorities in the world's second-largest economy struggling to kickstart spending and trade headwinds intensifying as