Trump Escalates Trade War: Threatens 50% Tax Hike on Chinese Imports Amid Market Turmoil
The ongoing trade war between the US and China has taken a dramatic turn, with President Donald Trump threatening to impose an additional 50 percent tax on Chinese imports. This move comes after China retaliated against the latest set of tariffs announced by the Trump administration, sparking a downward spiral in global markets. As the trade tensions escalate, investors are bracing for potential economic fallout, with many fearing a full-blown trade war could have far-reaching consequences for international trade and commerce. With the US-China trade war showing no signs of abating, the global economy is on high alert, and the prospect of increased tariffs and trade restrictions is weighing heavily on market sentiment. The situation is being closely monitored by economists and trade experts, who are warning of potential disruptions to global supply chains and the impact on Australian businesses and consumers. Key issues include trade policy, tariff increases, and the potential for a global economic downturn.