Part 2/12:
On Wednesday, China raised its tariffs on U.S. goods by an astounding 50%, resulting in a tariff rate of 84%. In addition to this action, China implemented new export controls and added entities to its restricted lists, culminating in a formal complaint to the World Trade Organization. In retaliation, U.S. President Donald Trump announced an immediate hike in tariffs on Chinese imports to 125%, explicitly targeting China while opting for a 90-day pause on tariffs for other nations. This move serves to isolate China on the diplomatic and economic fronts.