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Trade Tensions Surge as China Hits Back with 84% Tariffs on U.S. Goods
In a dramatic escalation of the ongoing trade war, China has announced an 84% tariff on U.S. goods, effective April 10. This move comes in response to the U.S. imposing a sweeping 104% tariff on Chinese exports. The tit-for-tat measures have sent shockwaves through global markets, with analysts warning of potential economic fallout for both nations.
China's Ministry of Finance criticized the U.S. tariffs as a "mistake on top of a mistake," vowing to defend its economic interests. Meanwhile, U.S. officials expressed regret over China's retaliatory actions but maintained that the tariffs were necessary to address trade imbalances.
The escalating tariffs are expected to disrupt global trade flows, with industries on both sides bracing for impact. Economists predict that the prolonged trade war could dampen economic growth and strain international relations further.
The world watches as the two largest economies continue their high-stakes standoff, with no resolution in sight.
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