President Donald Trump’s trade tariffs targeting China began at 12:01 am EST on Wednesday, imposing a staggering 104% levy on Chinese goods, to which China retaliated with an 84% tariff on US imports. The escalating trade war, marked by a series of tariff increases, has led to significant stock market declines and raised concerns about economic repercussions for both nations, with analysts predicting potential GDP declines for China. Despite the tensions, both countries remain major trade partners, with China’s economic growth projected to fall below targets due to these tariffs.
