Trade Turmoil: China and the US Lock Horns Over Steep Tariffs

Tensions rise between China and the US as both countries implement tariffs, significantly affecting bilateral trade. While the US imposes a 104% tariff on Chinese imports, China holds back from immediate retaliation but declares its intent to protect national interests. Potential repercussions loom over both economies amidst ongoing trade disputes.

The escalating trade tensions between China and the United States have intensified as the US enforces a staggering 104% tariff on Chinese goods. In a robust response, China vowed to safeguard its interests but refrained from unveiling immediate countermeasures.

US President Donald Trump's aggressive tariff policy, impacting 60 countries, came into effect with dire implications for US-China trade. The Chinese Foreign Ministry stood firm against the perceived economic coercion, instructing the US to engage diplomatically for a resolution.

Experts, like Larry Hu from Macquarie, warn of economic repercussions for China, predicting a downturn in exports and GDP. Amidst the economic threats, Chinese officials maintain resilience, with Premier Li Qiang asserting China's capability to withstand and respond to external financial pressures.

(With inputs from agencies.)