US-China Trade War Intensifies With New Tariffs

The Trump administration has escalated its trade war with China by imposing cumulative tariffs as high as 245% on certain Chinese goods, resulting in dramatic price increases for products like syringes and significant shifts in global supply chains. The U.S. is reportedly offering tariff relief to nearly 70 countries that reduce economic ties with China and is working to prevent Chinese firms from circumventing tariffs through relocation or transshipment. Beijing has responded defiantly, stating it is not afraid of a trade war and calling for the U.S. to halt coercive tactics. The World Trade Organization has downgraded its 2025 global trade forecast, projecting a 0.2% decline in global trade volume, with North America expected to see particularly steep declines in exports and imports. The aggressive U.S. policy has sparked debate among Trump’s supporters and prompted Federal Reserve Chair Jerome Powell to warn of potential negative effects on inflation and employment. Global economic risks remain high as the U.S. seeks to rally allies while China urges respectful dialogue.