The future of one of the world’s biggest trading relationships hangs in the balance after President Donald Trump’s tariff war sparked a standoff between the US and China.
While Trump stepped back from the cliff edge for most countries — announcing on April 9 a 90-day pause on much of his “reciprocal” tariff agenda — he doubled down on China, increasing the new levy on its imports since he returned to the White House to 145%. China responded by raising its new duties on shipments from America to 125% from April 12, and said it won’t match any further hikes announced by Washington because the Trump administration’s escalating numbers have “become a joke.”