US-China Trade War Escalates with Record Tariffs and Global Repercussions

As tariffs reach historic levels, nations realign trade strategies while China strengthens Southeast Asian ties to counter economic fallout.

• The United States has imposed a 145% tariff on Chinese goods, with China retaliating by raising tariffs on US goods to 125%, effectively halting most trade between the two economies.
• China is pursuing a long-term strategy to mitigate the impact of the trade war, focusing on strengthening economic ties with Southeast Asian nations, including planned state visits by Xi Jinping to Vietnam, Malaysia, and Cambodia.
• India and the US have finalized terms for the first phase of a bilateral trade deal, with discussions expected to conclude within 90 days, signaling a proactive diversification of India's trade partnerships.
• Taiwan has initiated tariff negotiations with the US, aiming to reduce its current 10% tariff rate and establish a more stable trade relationship.
• The global trade landscape faces significant disruption, with developing nations and key exporters seeking alternative markets and restructuring supply chains to adapt to the shifting economic environment.

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