US President Donald Trump’s sweeping “reciprocal” tariffs—most notably a stunning 104% levy on Chinese imports—came into force on Wednesday, starting a global trade war, shaking markets, triggering alarm from economists, and creating fissures within the Republican Party.
In response, China is raising its retaliatory tariff on US goods to 84%, up from 34%, effective April 10, the finance ministry said on Wednesday. “The tariff escalation against China by the United States simply piles mistakes on top of mistakes (and) severely infringes on China’s legitimate rights and interests,” the ministry said. The ministry emphasized its resolve, saying, “If the US insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end.”
So far, Chinese President Xi Jinping has not shown any interest in bargaining with Trump.
Why it matters
Trump’s trade war isn’t just an economic experiment—it’s a full-blown political gamble that may unravel his presidency, the Republican hold on Congress, and the global trade system built after World War II.
“Unless he suddenly changes direction, which is unlikely, Donald Trump is committing political suicide,” writes economist Swaminathan Aiyar in The Economic Times, calling it a “Riveting Political Suicide Show.” “Such an outcome is to be wished devoutly,” writes Aiyar. “It will mean the end not just of Trump, but of Trumpism.”
The tariffs, billed by Trump as a righteous strike against “unfair” trade, are already causing deep economic reverberations, with Wall Street crashing, Treasury yields surging, and even Trump loyalists expressing discomfort.
Senator Ted Cruz warned the fallout could be a “blood bath” for Republicans in the 2026 midterms, paving the way for Democratic control of both houses. That, he said, would cripple Trump’s presidency in its final two years and potentially spark a rebellion within the GOP itself.
Former treasury secretary Larry Summers issued a starker warning: the tariffs are likely to induce a US recession, potentially costing 2 million jobs and $5,000 per family in lost household income.
Trump tariffs may hit China’s GDP growth, which will impact global trade.
The big picture
Markets in meltdown: Hedge fund titan Bill Ackman called the tariff math “stupidity.” JPMorgan’s Jamie Dimon warned in his investor letter that a recession is now probable. BlackRock’s Larry Fink was even blunter: “The economy is weakening as we speak.”
China’s counteroffensive: Beijing accused Washington of “bullying practices” and vowed “firm and forceful” retaliation. It may ban key US imports—like poultry, soybeans, and Hollywood films—and cut cooperation on fentanyl and IP protection.
Allies alienated: Even countries with zero tariffs on US goods—like Israel—have been slapped with new duties. Others like Vietnam and Taiwan offered to reduce their tariffs to zero, only to be rebuffed.
Trump’s trade logic is simple but dangerous: Any bilateral trade deficit implies unfair trade. Economists call this “economic illiteracy.”
Between the lines
Trump believes tariffs will fund income tax cuts, restore US manufacturing, and create a new economic order with the US at the helm.
He’s openly idolized President William McKinley, who funded federal spending in the 1890s entirely through import duties. Trump’s team estimates $600 billion in tariff revenue—enough to slash or eliminate income taxes. But this assumes imports don’t collapse, which contradicts Trump’s goal of reducing them. A classic contradiction.
“He cannot both slash imports and gain massive tariff revenue,” notes Aiyar. “None in the Cabinet dares tell him that.” Source: TOI
一个操作建议：把Cryptify Hub加入书签，但不要只依赖它。找工具时，用它作为起点；做决策前，用搜索引擎、社区讨论、官方文档做交叉验证。导航站是帮手，不是保姆。
Wow that was strange. I just wrote an really long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyway, just wanted to say excellent blog!
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Right now it seems like Drupal is the preferred blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Aw, this was a really good post. Taking a few minutes and actual effort to create a good article… but what can I say… I put things off a whole lot and don’t seem to get nearly anything done.
Right now it looks like Movable Type is the preferred blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
May I simply just say what a relief to discover a person that truly knows what they’re talking about over the internet. You certainly realize how to bring a problem to light and make it important. A lot more people need to look at this and understand this side of the story. I can’t believe you are not more popular since you certainly possess the gift.
Wow that was strange. I just wrote an very long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say fantastic blog!
At this time it seems like Movable Type is the best blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Can I simply say what a relief to uncover someone who genuinely knows what they are discussing on the web. You definitely know how to bring a problem to light and make it important. More people should check this out and understand this side of your story. I can’t believe you’re not more popular because you definitely possess the gift.
Hey there, You have done a great job. I will certainly digg it and in my opinion recommend to my friends. I am confident they’ll be benefited from this site.
Aw, this was an incredibly good post. Spending some time and actual effort to create a top notch article… but what can I say… I put things off a lot and don’t manage to get nearly anything done.
Wow that was strange. I just wrote an very long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say fantastic blog!
Currently it seems like Expression Engine is the preferred blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Hi there, i read your blog from time to time and i own a similar one and i was just curious if you get a lot of spam responses? If so how do you protect against it, any plugin or anything you can recommend? I get so much lately it’s driving me mad so any support is very much appreciated.
May I just say what a comfort to find someone that actually understands what they are talking about on the web. You actually understand how to bring a problem to light and make it important. More people ought to look at this and understand this side of the story. I can’t believe you’re not more popular since you definitely possess the gift.
I enjoy reading through an article that can make men and women think. Also, many thanks for allowing for me to comment!
Hello there, You’ve done an incredible job. I will definitely digg it and in my view recommend to my friends. I’m confident they will be benefited from this web site.
Your means of explaining the whole thing in this post is actually nice, all can easily understand it, Thanks a lot.
Right now it seems like BlogEngine is the top blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Can I just say what a relief to uncover somebody who really knows what they are discussing on the internet. You actually realize how to bring an issue to light and make it important. More and more people need to check this out and understand this side of the story. I was surprised that you are not more popular given that you surely possess the gift.
I pay a visit each day some web pages and information sites to read articles or reviews, but this weblog presents quality based writing.
My family always say that I am killing my time here at net, but I know I am getting familiarity all the time by reading thes good posts.
Hi there, You’ve performed an incredible job. I will certainly digg it and in my view recommend to my friends. I am confident they’ll be benefited from this site.
Wow that was unusual. I just wrote an very long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say superb blog!
Wow that was unusual. I just wrote an very long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say great blog!
What i do not realize is in truth how you are now not really much more neatly-appreciated than you may be now. You are very intelligent. You understand thus considerably relating to this subject, made me for my part believe it from a lot of various angles. Its like men and women are not fascinated except it is something to accomplish with Lady gaga! Your individual stuffs outstanding. Always deal with it up!
Hey! I know this is kind of off-topic but I had to ask. Does running a well-established blog such as yours take a large amount of work? I am completely new to operating a blog however I do write in my diary everyday. I’d like to start a blog so I can share my own experience and feelings online. Please let me know if you have any recommendations or tips for new aspiring bloggers. Thankyou!
Can I simply just say what a relief to find an individual who truly understands what they’re discussing on the internet. You actually know how to bring an issue to light and make it important. A lot more people should look at this and understand this side of your story. I can’t believe you are not more popular given that you most certainly have the gift.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
At this time it appears like Expression Engine is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Hello to all, it’s genuinely a pleasant for me to go to see this web site, it consists of precious Information.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Currently it sounds like Movable Type is the top blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
This is really interesting, You are a very skilled blogger. I have joined your rss feed and look forward to seeking more of your magnificent post. Also, I have shared your website in my social networks!
Hi, its nice paragraph on the topic of media print, we all be familiar with media is a wonderful source of data.
Hello to all, the contents existing at this website are actually amazing for people knowledge, well, keep up the good work fellows.
I know this web page gives quality dependent articles and additional information, is there any other web site which offers such stuff in quality?
Aw, this was an incredibly nice post. Taking a few minutes and actual effort to generate a really good article… but what can I say… I hesitate a lot and never seem to get anything done.
Excellent post. Keep posting such kind of information on your site. Im really impressed by your site.
Right now it looks like WordPress is the preferred blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Wow that was strange. I just wrote an extremely long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyway, just wanted to say fantastic blog!
Hi there, You have done an excellent job. I’ll certainly digg it and individually recommend to my friends. I’m confident they’ll be benefited from this site.
Hello there, You have done an excellent job. I will certainly digg it and in my view recommend to my friends. I am confident they will be benefited from this web site.
Wow that was odd. I just wrote an incredibly long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyway, just wanted to say fantastic blog!
Currently it sounds like WordPress is the top blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Greate post. Keep posting such kind of information on your site. Im really impressed by it.
Wow that was unusual. I just wrote an really long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyway, just wanted to say wonderful blog!
At this time it seems like BlogEngine is the preferred blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Currently it sounds like Expression Engine is the best blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Aw, this was an incredibly good post. Taking a few minutes and actual effort to produce a really good article… but what can I say… I hesitate a whole lot and don’t manage to get anything done.
Helpful info. Fortunate me I found your web site by chance, and I am stunned why this twist of fate didn’t happened in advance! I bookmarked it.
This design is steller! You obviously know how to keep a reader entertained. Between your wit and your videos, I was almost moved to start my own blog (well, almost…HaHa!) Fantastic job. I really enjoyed what you had to say, and more than that, how you presented it. Too cool!
Good day! I just would like to offer you a big thumbs up for your excellent info you have got right here on this post. I’ll be coming back to your site for more soon.
May I simply say what a comfort to uncover somebody that really understands what they’re talking about on the internet. You certainly realize how to bring a problem to light and make it important. More people ought to check this out and understand this side of the story. I was surprised you are not more popular because you surely possess the gift.
I used to be able to find good info from your content.
Hey there, You’ve performed an incredible job. I will certainly digg it and personally suggest to my friends. I’m confident they will be benefited from this website.
If you would like to grow your familiarity only keep visiting this site and be updated with the latest news posted here.
Have you ever thought about including a little bit more than just your articles? I mean, what you say is fundamental and everything. Nevertheless think about if you added some great images or video clips to give your posts more, “pop”! Your content is excellent but with pics and clips, this site could definitely be one of the best in its niche. Good blog!
Hello there, You have performed an excellent job. I will definitely digg it and in my opinion suggest to my friends. I’m confident they’ll be benefited from this site.
Wow that was strange. I just wrote an incredibly long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say great blog!
Right now it seems like WordPress is the top blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Hi, I think your website might be having browser compatibility issues. When I look at your blog in Safari, it looks fine but when opening in Internet Explorer, it has some overlapping. I just wanted to give you a quick heads up! Other then that, fantastic blog!
Right now it sounds like WordPress is the preferred blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Aw, this was an incredibly good post. Taking a few minutes and actual effort to create a top notch article… but what can I say… I procrastinate a lot and don’t manage to get nearly anything done.
I really like what you guys are up too. This kind of clever work and reporting! Keep up the wonderful works guys I’ve added you guys to our blogroll.
Excellent blog here! Also your website loads up fast! What web host are you using? Can I get your affiliate link to your host? I wish my website loaded up as quickly as yours lol
May I just say what a comfort to uncover a person that really knows what they’re discussing on the net. You definitely know how to bring a problem to light and make it important. A lot more people have to look at this and understand this side of the story. I was surprised that you’re not more popular since you definitely have the gift.
Currently it appears like Expression Engine is the top blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Wow that was strange. I just wrote an really long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyways, just wanted to say wonderful blog!
Wow that was odd. I just wrote an incredibly long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say superb blog!
Hello there, You have done an incredible job. I’ll certainly digg it and individually recommend to my friends. I am confident they’ll be benefited from this web site.
Currently it seems like BlogEngine is the best blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Generally I don’t read article on blogs, however I wish to say that this write-up very pressured me to check out and do so! Your writing taste has been amazed me. Thank you, quite great article.
Wow that was strange. I just wrote an very long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say wonderful blog!
I’ve been browsing online more than three hours lately, yet I by no means found any interesting article like yours. It is lovely worth enough for me. Personally, if all site owners and bloggers made excellent content as you did, the web can be much more useful than ever before.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
May I simply say what a relief to find somebody that actually knows what they are discussing online. You certainly understand how to bring an issue to light and make it important. A lot more people must look at this and understand this side of the story. I was surprised that you aren’t more popular given that you most certainly possess the gift.
Wow that was odd. I just wrote an very long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyway, just wanted to say wonderful blog!
Excellent article. Keep writing such kind of information on your site. Im really impressed by it.
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Right now it sounds like Drupal is the preferred blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
Hey there, You’ve done a fantastic job. I’ll certainly digg it and for my part suggest to my friends. I am confident they will be benefited from this website.
Excellent article. Keep posting such kind of information on your site. Im really impressed by it.
Wow that was odd. I just wrote an really long comment but after I clicked submit my comment didn’t show up. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say fantastic blog!
Wow that was strange. I just wrote an very long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyways, just wanted to say excellent blog!
Greate pieces. Keep posting such kind of information on your blog. Im really impressed by it.
Excellent post. Keep posting such kind of information on your page. Im really impressed by your site.
Wow that was unusual. I just wrote an incredibly long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Regardless, just wanted to say great blog!
Currently it looks like Expression Engine is the top blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Hey there, You’ve performed an excellent job. I will definitely digg it and in my opinion recommend to my friends. I am confident they will be benefited from this site.
At this time it looks like WordPress is the preferred blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Excellent pieces. Keep posting such kind of information on your page. Im really impressed by your blog.
Greate post. Keep posting such kind of information on your page. Im really impressed by your blog.
May I simply say what a relief to uncover a person that actually understands what they are talking about online. You definitely understand how to bring a problem to light and make it important. A lot more people should read this and understand this side of the story. I was surprised you’re not more popular given that you definitely have the gift.
Right now it seems like WordPress is the top blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
May I just say what a relief to uncover someone who genuinely understands what they are discussing on the internet. You certainly know how to bring an issue to light and make it important. More people ought to look at this and understand this side of your story. I was surprised that you aren’t more popular since you surely have the gift.
Currently it looks like Drupal is the preferred blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Excellent pieces. Keep posting such kind of info on your blog. Im really impressed by your blog.
Wow that was odd. I just wrote an extremely long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyways, just wanted to say excellent blog!
Hey I know this is off topic but I was wondering if you knew of any widgets I could add to my blog that automatically tweet my newest twitter updates. I’ve been looking for a plug-in like this for quite some time and was hoping maybe you would have some experience with something like this. Please let me know if you run into anything. I truly enjoy reading your blog and I look forward to your new updates.
At this time it looks like Drupal is the best blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
At this time it appears like WordPress is the best blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
Currently it looks like BlogEngine is the top blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?
Aw, this was an extremely nice post. Finding the time and actual effort to create a great article… but what can I say… I hesitate a lot and don’t seem to get anything done.
Aw, this was an extremely good post. Taking the time and actual effort to make a very good article… but what can I say… I put things off a whole lot and don’t manage to get anything done.
Aw, this was an exceptionally good post. Taking a few minutes and actual effort to generate a very good article… but what can I say… I procrastinate a whole lot and don’t manage to get nearly anything done.
Wow that was strange. I just wrote an extremely long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyways, just wanted to say excellent blog!
Hey there, You have done a great job. I’ll certainly digg it and in my opinion recommend to my friends. I am confident they’ll be benefited from this site.
At this time it looks like Expression Engine is the preferred blogging platform out there right now. (from what I’ve read) Is that what you are using on your blog?
The other day, while I was at work, my cousin stole my apple ipad and tested to see if it can survive a forty foot drop, just so she can be a youtube sensation. My iPad is now destroyed and she has 83 views. I know this is completely off topic but I had to share it with someone!
Simply desire to say your article is as amazing. The clarity in your post is simply nice and i could assume you are an expert on this subject. Fine with your permission let me to grab your feed to keep up to date with forthcoming post. Thanks a million and please keep up the rewarding work.
Simply want to say your article is as astonishing. The clearness in your post is simply nice and i could assume you’re an expert on this subject. Fine with your permission allow me to grab your feed to keep up to date with forthcoming post. Thanks a million and please carry on the enjoyable work.
Simply wish to say your article is as amazing. The clearness in your post is simply excellent and i could assume you’re an expert on this subject. Well with your permission let me to grab your RSS feed to keep updated with forthcoming post. Thanks a million and please carry on the enjoyable work.
Excellent pieces. Keep writing such kind of information on your site. Im really impressed by your blog.
Currently it looks like Drupal is the preferred blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
Currently it appears like Drupal is the preferred blogging platform out there right now. (from what I’ve read) Is that what you’re using on your blog?
Currently it looks like Drupal is the top blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?
At this time it sounds like BlogEngine is the best blogging platform available right now. (from what I’ve read) Is that what you are using on your blog?