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Trump’s 104% tariffs on Chinese goods came into effect today, and China immediately hit back by raising its own tariffs on US imports from 34% to 84%.
China’s foreign ministry accused the US of bullying and said it would keep fighting if pushed.
President Trump used the moment to encourage businesses to move to the US, claiming there would be no tariffs, no delays, and fast energy hookups. He boasted that other countries were “kissing my ass” for trade deals.
In response, the EU said it would impose 25% tariffs on some American products like motorbikes, luxury boats, and orange juice.
European drug companies saw stock prices drop after Trump said he was planning major tariffs on pharmaceutical imports.
The UK said it was ready for any fallout and was confident about a trade deal with the US.
China’s state media mocked other countries for begging the US for better terms and said it preferred fair trade rules for everyone. Some Southeast Asian nations like, Cambodia and Vietnam , already hit by massive US tariffs, might agree with that.
Russia has also chipped in to the debate accusing the US of flouting international trade rules by imposing 104% charges on imports from China.
“Washington doesn’t seem itself bound by the norms of international trade law,” Russian foreign ministry spokesperson Maria Zakharova said.
Sources: BBC, CNN.
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