China is starting to see a rebound in its M&A scene as government stimulus measures start to bear fruit and pressure from Donald Trump's tariffs mounts.

China condemned tariffs launched or threatened by U.S. President Donald Trump at a World Trade Organization meeting on Tuesday, warning that such "tariff shocks" threaten to upend the global trading system and could risk a global recession.

Trump signed executive orders last week imposing new 25 percent tariffs on steel and aluminium, due to come into effect on March 12

The rapid-fire shots of tariffs and import curbs hearken back to Trump’s first term in office, when the U.S. and China engaged in a trade war that spanned most of Trump’s first four years in office and was continued to a certain extent under his successor, Joe Biden.

The White House published three separate Executive Orders that imposed blanket tariffs on Canadian, Mexican and Chinese imports. The Executive Orders are all similar in scope, with each having a unique justification for imposing the associated tariffs.

Existing American tariffs already restrict steel and aluminum shipments from China, which is now flooding other markets with its exports instead.

Beijing sees US unilateralism as a threat to global trade, fuelling inflation, market imbalances, and recession risks.

The State Department removed a line from a fact sheet saying Washington doesn't support Taiwan's independence, angering Beijing.