China’s 84% tariffs on US products comes into force amid market relief after Trump suspends steep reciprocal tariffs elsewhere
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Donald Trump’s trade war with China entered a new phase on Thursday, as Beijing’s 84% retaliatory tariffs came into effect hours after the US president announced a pause of steep reciprocal tariffs on dozens of countries except China.
Markets rebounded after Trump’s announcement of the sudden pause, after the most volatile episode in financial markets since the pandemic.
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