💨 Abstract

China increased tariffs on U.S. imports to 125% in retaliation to Trump's tariff hike on Chinese goods, intensifying a trade war that threatens global supply chains and causing market turmoil. The U.S. administration continues to discuss new trade deals, but the tit-for-tat tariffs between the two countries may make trade impossible, affecting commerce worth over $650 billion in 2024.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖