Trump Escalates US-China Tariff War, Triggering Global Market Crash

Trump escalated tensions with China by imposing a 104% tariff on Chinese goods after Beijing retaliated with a reciprocal tariff policy. This move came in response to China’s refusal to yield to the U.S.’s demands, prompting the world market to react sharply. Major stock indices worldwide have experienced significant drops, wiping out over $5 trillion from the market capitalization in just a week. The global economy faces rising uncertainty as the recession rate surges alarmingly.