This renewed trade conflict stems from a February 4 executive order that introduced a 10% duty on Chinese goods. In response, China applied tariffs ranging from 10% to 15% on various American exports, including energy products, machinery, and vehicles. The situation has since intensified, with each side implementing increasingly steep tariffs.
As tensions continue to rise, global markets are watching closely. The outcome of this standoff could have far-reaching consequences for international trade and economic stability.