China Retaliates With 34% Tariffs After Trump's Escalation

Following President Trump's imposition of a 34% tariff on all Chinese imports, China has retaliated with identical tariffs on all US imports, escalating the global trade war. The move sent shockwaves through global markets, causing a significant drop in US stocks. Beyond tariffs, China added 11 US companies to its 'unreliable entities list' and implemented export controls on rare earth minerals, further intensifying the conflict. Analysts predict severe consequences for both US and Chinese economic growth.