Overview

• The U.S. has enacted its latest tariff regime, targeting China with a 104% import duty and the European Union with a 20% rate, effective April 9, 2025.
• Global financial markets have reacted sharply, with U.S. stock indices experiencing significant drops and fears of prolonged economic instability growing.
• China has escalated its response, refusing to back down, and has sought intervention from the WTO, accusing the U.S. of violating trade rules.
• The European Union is preparing retaliatory tariffs, with initial measures expected to target U.S. exports like agricultural and industrial goods.
• President Trump has expressed confidence in negotiating deals but has faced domestic and international criticism over the potential economic fallout.