Overview

• President Trump has enacted a 104% tariff on Chinese imports following Beijing's retaliatory measures, marking a significant escalation in the trade conflict.
• Global markets remain volatile, with nearly $10 trillion wiped off market values since the announcement of U.S. tariffs last week.
• China has condemned the tariffs as 'blackmail' and vowed to 'fight to the end,' while signaling potential countermeasures targeting U.S. agriculture and entertainment sectors.
• Republican lawmakers and business leaders express growing concerns over the economic risks of the tariffs, with fears of recession and rising inflation.
• The U.S. administration remains firm on its tariff strategy but has indicated a willingness to negotiate tailored trade agreements if China initiates discussions.