U.S. Raises Tariffs on China to 145%, Oil Prices Drop Over 3%

President Trump's policy shift pauses tariffs for some trading partners but escalates the U.S.-China trade conflict, rattling global markets.

The U.S. has increased tariffs on Chinese imports to 145%, marking a significant escalation in the ongoing trade war between the two nations.
China has retaliated by imposing an 84% tariff on U.S. goods, deepening economic tensions between the world's two largest economies.
Oil prices have fallen sharply, with U.S. crude futures dropping over 3% to $59.71 per barrel, as investors weigh the impact of reduced global demand.
The U.S. Energy Information Administration has lowered its global economic growth and oil demand forecasts, citing risks tied to prolonged trade disputes.
Analysts warn that sustained trade tensions could stifle global economic growth, disrupt trade routes, and significantly reduce crude consumption.