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China retaliates with tariffs as UBS reports strong profit recovery

China has announced retaliatory tariffs of 10-15% on various US imports, including liquefied natural gas and crude oil, following President Trump's new tariffs. Meanwhile, UBS reported a strong fourth-quarter profit, driven by increased trading activity, and plans to repurchase $3bn in shares. Standard Chartered appointed Maria Ramos as its new chair amid rising global trade tensions.
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