Escalation in China-US Trade War as Tariffs Spike

The trade tensions between China and the US have intensified as both countries dramatically increased tariffs on each other's imports. China's tariffs on US goods rose to 84%, while the US imposed a 104% tariff on Chinese exports. This escalation could significantly impact the global economy and trade relations.

In a significant escalation of trade tensions, China has retaliated against US-imposed tariffs by increasing levies on American imports to 84%. This move follows US President Donald Trump's decision to raise tariffs on Chinese goods to 104%.

The tit-for-tat tariff battle represents a deepening of the trade war between the world's two largest economies, highlighting rising protectionism and unilateral actions. China has filed a complaint with the World Trade Organisation, labeling US conduct as a violation of international trade rules.

This ongoing conflict could have profound ramifications, affecting the global supply chain, market stability, and economic growth. China aims to mitigate adverse impacts through policy adjustments while maintaining economic resilience.

(With inputs from agencies.)