In a sharp escalation of trade tensions, China has announced an 84% tariff on all American goods, effective from Thursday. This move comes in retaliation to the United States imposing a 104% tariff on Chinese imports, which Beijing has described as “oppressive.” The Chinese Ministry of Finance stated that the new tariffs are a necessary response to the U.S.‘s aggressive trade policies. Analysts believe this development marks the beginning of another round of trade war between the world’s two largest economies—raising concerns about potential negative impacts on the global economy. Despite the escalation, China has expressed its willingness to engage in dialogue with the U.S. government to resolve the conflict. In a white paper released on Wednesday, Beijing emphasized its consistent efforts to maintain mutually beneficial trade relations with Washington. The document acknowledges that trade disputes are “normal” but stresses the importance of safeguarding China’s national interests.