Escalating Economic Tensions: Tariffs Trigger US-China Trade War

The US-China trade war intensifies as China imposes 84% tariffs on US imports following President Trump's levies. The economic standoff, with mutual tariff hikes, reflects growing global trade tensions. China's strategic adjustments aim to counteract US pressures, emphasizing dialogue for resolution.

The trade war between the United States and China has taken a dramatic turn. On Wednesday, China announced it will impose steep 84% tariffs on American imports, following President Donald Trump's recent tariffs targeting Chinese exports. This development marks a significant escalation in the economic dispute between the world's two largest economies.

The tariffs imposed by both nations signal a deepening economic rift, furthering global trade tensions. China's decision came after Trump had previously widened tariffs to affect 60 countries, including imposing a 104% levy specifically targeting China. In response, China has filed a lawsuit with the WTO against the US, criticizing the move as a violation of international trade rules.

Amidst this backdrop, China is preparing to counter the impact of these tariffs. The People's Bank of China is allowing the Yuan to weaken to support exports, reflecting China's strategic repositioning. Premier Li Qiang expressed confidence in China's resilience, emphasizing efforts to uphold international trade principles while gearing up economically against US measures.

(With inputs from agencies.)