China's President Xi Jinping urged a gathering of multinational CEOs on Friday to protect global industry and supply chains, as Beijing seeks to assuage foreign firms' concerns over the Chinese economy's health amid threats of more U.

Chinese President Xi Jinping called on global business leaders to push back against protectionism, seeking to take advantage of growing backlash to rising US tariffs to promote his country as a reliable partner.

China is looking to woo American business leaders to encourage foreign investment despite President Donald Trump's tariff war.

President Donald Trump suggested reducing tariffs on China in exchange for China's support of a TikTok deal. Since taking office, Trump has levied a 20% tariff on Chinese goods, which took effect earlier this month.

European automakers, already struggling with tepid economic growth at home and rising competition from China, on Thursday decried the U.S. import tax on cars as a heavy burden that will punish

European automakers decried the U.S. import tax on cars as a heavy burden that will punish consumers and companies alike on both sides of the Atlantic.

For many consumers, buying a new car is already a costly challenge. President Donald Trump has now made it even more financially difficult. Trump announced Wednesday that he wants to impose a 25 percent tariff on imported cars and parts on the theory that a trade war might boost manufacturing jobs in the United States in the long run.

Global stocks fell on Thursday, led by heavy losses in Japan and South Korea, after U.S. President Donald Trump announced new tariffs on auto imports, with European stock futures also pointing to a lower open.