The U.S. and China are locked in a deepening trade war after President Trump announced steep new tariffs, including a potential 104% duty on Chinese imports. China retaliated by accusing the U.S. of “economic blackmail” and vowing to “fight till the end.” Key Developments:

U.S. Tariffs: Trump imposed 34% tariffs on China (on top of existing 20% duties) and threatened an additional 50% hike, which could bring total tariffs to 104% if China refuses to back down. China’s Response: Beijing condemned the move as “unilateral bullying” and warned of counter-tariffs on U.S. goods, potentially targeting agriculture and tech sectors. Global Impact:

Markets are volatile as businesses brace for supply chain disruptions, higher consumer prices, and potential global economic slowdown. Broader Consequences: Trade War Risks: Escalation could lead to long-term economic realignment,

with companies shifting supply chains away from China. Diplomatic Fallout: The WTO’s role is weakening as bilateral brinkmanship replaces multilateral negotiations. Political Pressure: Trump faces criticism from economists and business leaders (like Bill Ackman), warning tariffs could hurt U.S. consumers and jobs.