China has imposed a new tariff on American goods, raising taxes to 125% in response to the White House’s move to raise tariffs on China to 145%. Chinese President Xi Jinping responded to President Donald Trump, stating that there are no winners in a tariff war and that China does not fear economic suppression. This exchange between the two leaders comes amid uncertainty over tariffs and their impact on the global economy. The escalating trade war has led to concerns among business leaders and consumers about the potential consequences of these tariffs. Despite the tensions between the US and China, Trump recently paused some of his tariffs, sparking a historic stock rally. However, Trump has indicated that he is not looking to pause tariffs further, despite fears of the impact on the global economy. As the two countries continue to engage in a trade war, experts warn of the potential financial impact on everyday goods and the global economy as a whole. The situation remains fluid, with both sides making strategic moves to gain leverage in the ongoing trade negotiations.
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