On Thursday, President Trump announced a major trade overhaul, introducing a 10% universal tariff on all imported goods and up to 50% on specific countries, igniting a fierce backlash from global markets. Countries like China are particularly impacted, facing a total tariff exceeding 50%. China's officials warn that these tariffs threaten global economic stability, and Beijing is preparing countermeasures. The immediate market reactions have seen significant declines, especially in Asia, reflecting the seriousness of this policy shift. Trump's approach underscores a confrontation with longstanding trade practices, reflecting substantial change in U.S. foreign and trade relations.
Trump's tariffs represent a major shift in U.S. trade policy, with a universal baseline of 10%, reaching over 50% on specific imports, targeting unfair practices.
China's response highlights the risks of a trade war, emphasizing that no party benefits from protectionism and warning of potential harm to global supply chains.
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