tariffs

The Trump administration is preparing retaliatory tariffs against China, escalating trade tensions as concerns over a full-blown trade war loom. The move comes after Beijing announced plans to impose duties on $3 billion worth of US imports, in response to Washington's earlier tariffs on steel and aluminum. The administration has identified $50 billion worth of Chinese goods that could face counter-tariffs, covering sectors such as semiconductors, chemicals, and machinery. The escalating trade rhetoric is raising fears among economists and businesses that a wider conflict could damage the global economy.