Overview

• President Trump announced a 90-day suspension of elevated tariffs for most US trading partners, lowering them to 10%, while increasing tariffs on Chinese imports to 125%.
• China, in response to the heightened tariffs, raised its retaliatory duties on US goods to 84%, intensifying the trade conflict between the two largest global economies.
• Global financial markets reacted sharply, with Asian stock indices rebounding after earlier turmoil, while US markets surged following the tariff suspension announcement.
• The European Union and other affected countries continue to prepare countermeasures, urging diplomatic resolutions to prevent further economic disruptions.
• Experts warn of long-term risks, including inflation, supply chain disruptions, and potential global economic recession, as tensions between the US and China escalate further.