Tariff war cannot last, say experts

After China, EU to slap tariffs; Trump may stay aggressive

- MUKESH JAGOTA

THE FATE OF the Trump administration's tariff offensive would be determined by the way the US' key trading partners react to it, experts said. The comments come even as China retaliated on Friday with an additional 34% duty on US imports, mirroring Washington's latest reciprocal tariff rate on Beijing.

Next in line could be the European Union, which is reportedly preparing to impose fresh duties on up to $28.4 billion worth of US imports. This move is part of the EU's response to the US steel and aluminum tariffs that came into effect on March 12.

China's retaliation may prompt the US to escalate further, as US President Donald Trump has threatened to impose even steeper tariffs if countries hit back. This tit-for-tat could potentially bring trade between the world's two largest economies to a standstill — an outcome that would have serious consequences not only for the US and China but for the global economy at large.