Overview

• President Donald Trump has set a deadline for China to reverse its 34% retaliatory tariffs by noon today, threatening an additional 50% tariff if Beijing does not comply.
• China has rejected the ultimatum, vowing to implement decisive countermeasures and calling the U.S. actions 'economic coercion.'
• The European Union has proposed a mutual removal of industrial tariffs to ease tensions, but Trump has dismissed the offer, accusing the EU of unfair trade practices.
• Economic analysts warn that the escalating tariffs could reduce German exports to the U.S. by 15% and contribute to broader global market instability.
• Tech billionaire Elon Musk reportedly attempted to persuade Trump to soften his tariff policy, but the President remains committed to his aggressive trade stance.