Overview

• The US has implemented a 104% tariff on Chinese imports and a 20% tariff on goods from the EU, marking the most aggressive phase of its new trade policy.
• China has vowed to retaliate and involved the WTO, accusing the US of violating free trade rules, while the EU is planning countermeasures against earlier US tariffs.
• Global markets have reacted with volatility; US indices fell sharply, while European markets showed mixed performance on hopes of negotiation.
• President Trump stated that nearly 70 countries have reached out for trade negotiations, but his confrontational remarks have heightened diplomatic strains.
• Industry leaders and trade associations warn of potential supply chain disruptions, shortages, and economic uncertainty as the tariff conflict escalates.