145% Tariffs! Trump Escalates Trade War as China Prepares to Strike Back

The trade war between the United States and China has hit an all-time high with President Donald Trump imposing a record 145% duty on Chinese imports, fueling the tensions between the two economic giants. This is the latest increase following months of successive tariff rises, as China has increased levies on U.S. goods to 84%. Beijing warned that it "will never sit idly" and will fight "until the end."

The repercussions of these tariffs have unsettled world markets. The U.S. major indices fell sharply, with the Dow Jones losing more than 1,200 points and the Nasdaq losing 5%. Technology titans Amazon and Apple plummeted sharply, while haven assets such as gold rose. At the same time, China has banned the export of American movies and filed a complaint at the World Trade Organization, claiming Washington is guilty of "bullying."

Despite Beijing's calls for dialogue, the White House still insists that China has to start negotiations. President Trump's administration still hardened in their stance, indicating no immediate plan for talks. As global trade alliances change and economic uncertainty worsens, this growing conflict threatens to rewrite the world economy.

Source: Business Today