Escalating Trade War Between China and the United States

China has firmly rejected the U.S. tariffs imposed by Donald Trump, labeling the move as “blackmail” and vowing to take countermeasures to protect its interests. In response, Beijing announced a 34% tax on specific American products, while Trump is threatening to hike tariffs by an additional 50%. This escalation could lead to duties reaching a staggering 104% on Chinese goods, further inflaming global economic tensions.

Markets are already feeling the heat from this trade war, with fears of an international recession looming. China, while ramping up trade with other partners like the European Union, maintains that “there are no winners in a trade war” and claims to remain open to dialogue. Meanwhile, American consumers may soon face rising prices, despite Trump’s attempts to downplay the impact.

Source: RFI