US-China Trade War Escalation: Tariffs and Countermeasures
Why in the news
The US-China trade dispute sharpened after Trump threatened tariffs of over 100%, though he said he awaited Beijing’s reply.
Key facts
- China vowed to fight to the end.
- Markets rebounded: US stocks gained, Japan’s Nikkei rose 6%, Chinese blue chips 1%.
- Analysts fear a global recession.
- Trump rejected the EU’s zero-tariff offer on industrial goods.
China’s six countermeasures
- Ban on US films.
- Higher tariffs on US soybeans and sorghum.
- Ban on US poultry.
- Pause in fentanyl cooperation.
- Steps in services trade.
- Intellectual property probes into US firms in China.
Other reactions
- EU: proposed 25% countertariffs on goods such as soybeans, nuts and sausages.
- Other Asian economies took a softer tone.
- Chinese tableware and flooring makers eye relocation abroad.
Exam angle
- Terms: tariff, countertariff, trade war.