WHEN TRUMP STUNNED THE WORLD WITH TARIFFS

In April, US President Donald Trump stunned the world as he declared a US Leconomic emergency and announced tariffs of at least 10% across all countries, with rates even higher for 60 countries or trading blocs that have a high trade deficit with the US. Days later, the world's two biggest trading nations, the US and China, were locked in a rapidly escalating tit-for-tat tariff war, triggered by aggressive trade measures introduced on Trump's so-called "Liberation Day".

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On April 9, the US's 145% tariff on Chinese goods came into effect, along with a range of additional duties on other global trade partners. Shortly after, China retaliated by raising duties on US goods again fro