Overview

• The U.S. has imposed a record 145% tariff on Chinese goods, with China retaliating with a 125% tariff on U.S. imports.
• President Trump claims ongoing talks with China and anticipates a deal within three to four weeks, though no concrete evidence of high-level negotiations has been confirmed.
• China has stated it will not respond to further U.S. tariff increases, emphasizing strategic patience and readiness to endure long-term economic impacts.
• The Trump administration has introduced targeted exemptions, including for smartphones and port fees, to mitigate inflationary pressures on U.S. consumers.
• Global markets remain volatile as countries like the EU and Southeast Asian nations navigate economic realignments and seek to balance relations with both superpowers.