Overview

• The U.S. currently imposes a 145% tariff on Chinese goods, while China retaliates with a 125% levy on U.S. imports.
• President Trump stated that Chinese officials have reached out multiple times, and he expects a trade agreement within three to four weeks.
• Trump signaled hesitation to further increase tariffs, citing concerns about their impact on consumer demand and trade activity.
• China has dismissed further tariff escalations as a 'numbers game' and emphasized its readiness to endure economic pressures.
• The trade war pressures global markets and third countries, as both the U.S. and China seek to strengthen ties with other economic partners.