Overview

• The U.S. has imposed a 145% tariff on Chinese imports, effectively creating an embargo, with China retaliating with 125% tariffs on American goods.
• Port traffic from China to the U.S. has plummeted, with arrivals down by approximately 35%, severely impacting supply chains and logistics industries.
• President Trump has labeled the economic downturn a 'transition period' and hinted at the possibility of lowering tariffs on China 'at some point' to restore trade relations.
• Stock markets initially plunged 12% after the tariff announcement but have since rebounded following a 90-day pause on non-China tariffs, though uncertainty persists.
• Economists warn of a potential recession as consumer confidence drops and businesses struggle to adapt to the unpredictable trade policies.