Overview

• The U.S. has implemented sweeping tariffs, with a universal rate of 10% on all imports and higher rates of 20% for the EU and 34% for China, now fully in effect.
• President Trump has threatened to impose an additional 50% tariff on Chinese imports if China does not withdraw its planned 34% counter-tariff set to take effect on April 10.
• Global markets have experienced significant turbulence, with steep declines in major indices across Asia, Europe, and the U.S., erasing trillions in market value.
• China has pledged to fight U.S. tariffs 'to the end,' rejecting Trump's demands and signaling no intention to back down, while also exploring measures to stabilize its markets.
• The EU has proposed reciprocal tariff exemptions to avoid escalation, but Trump has dismissed these efforts, maintaining a hardline stance on trade negotiations.