Overview

• The US has imposed tariffs on Chinese goods at a record 145%, prompting China to retaliate with a 125% tariff and a WTO complaint.
• Trump has paused most new tariffs for 90 days to stabilize markets but maintained harsh measures targeting China.
• The trade war has caused significant financial market instability, with US stock markets experiencing sharp declines reminiscent of the 2008 crisis.
• Domestic political dissent is growing, as Republican lawmakers criticize Trump's tariff strategy and propose limiting presidential authority on trade decisions.
• The US is negotiating trade deals with over 75 countries, while European and Chinese responses underscore the global economic ripple effects of the conflict.