Overview

• President Trump's 104% tariffs on Chinese imports are now in effect, marking a significant escalation in the global trade war.
• Global markets have experienced severe volatility, with the S&P 500 nearing bear market territory and trillions lost in market value over the past week.
• China has vowed to retaliate, labeling the tariffs as 'economic coercion' and promising countermeasures to protect its interests.
• The Trump administration is engaging in trade negotiations with allies like Japan and South Korea, while signaling openness to tailored deals with other nations.
• Economists warn that the tariffs could lead to higher consumer prices, supply chain disruptions, and an increased risk of a global recession.