Tariff Tensions Soar, but Global Markets React Calmly

⏺ Despite escalating US-China trade tensions, markets in Asia and Europe posted gains after Donald Trump announced a 90-day break for nations affected by higher US tariffs.

⏺ While the global 10% tariff remains for all but China, and the 25% levy on cars, steel, and aluminium still applies, Trump has hiked tariffs on Chinese goods to 125%, citing Beijing’s “lack of respect.” In return, China’s 84% counter-tariff on all US imports came into effect, as the government reiterated its refusal to compromise.