Donald Trump has threatened to impose up to 50% tariffs on Chinese imports, prompting a fierce response from Beijing, which warned that it will “fight to the end.” The escalating trade war has caused turmoil in global markets and increased fears of a recession. In retaliation, China announced a 34% tariff on US goods effective Thursday. Trump then raised the stakes further, stating total tariffs on Chinese imports could reach 104% if Beijing does not back down. A Chinese spokesperson criticized the US for its “blackmailing tactics.”
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