Overview

• President Trump has announced a potential 50% tariff increase on Chinese imports, which would bring total U.S. duties on Chinese goods to 104% if enacted by April 9.
• Global markets experienced severe sell-offs, with Hong Kong’s Hang Seng Index dropping 13.2%, its worst decline since 1997, and Wall Street indices closing with significant losses.
• The White House dismissed rumors of a 90-day tariff pause as ‘fake news,’ reaffirming its commitment to the aggressive tariff strategy despite market volatility.
• China has imposed a 34% retaliatory tariff on U.S. goods, prompting Trump to threaten the termination of all trade talks with Beijing if the measures are not rescinded.
• Key economic leaders, including JPMorgan Chase CEO Jamie Dimon, warn of rising inflation and recession risks, while some countries, such as Japan, seek to negotiate trade deals with the U.S.