Escalating US-China Trade War Hits Global Markets as Tariffs Loom

Global markets are experiencing significant volatility due to escalating tensions between the United States and China. The White House has issued a threat of imposing tariffs, potentially increasing them to 245% from their current level of 145%. This development follows recent actions where the US targeted other countries with tariffs, including Canada, Mexico, and the EU. This move aims to pressure China and appears aimed at targeting its economy.