Business

U.S., China clash as Trump set to unleash more tariffs

The global economy has been rocked since sweeping 10% U.S. tariffs took effect over the weekend, triggering a dramatic market sell-off worldwide and sparking recession fears.

The United States and China hurtled towards an all-out trade war Tuesday, locked in a high stakes game of brinkmanship as President Donald Trump prepared to unleash a new wave of tariffs against dozens of partners. The global economy has been rocked since sweeping 10% U.S.

tariffs took effect over the weekend, triggering a dramatic market sell-off worldwide and sparking recession fears. Rates on imports to the United States from dozens of economies are set to rise further at 12.01 am (0401 GMT) Wednesday, and this will see tariffs imposed on Chinese products since Trump returned to the White House reach a staggering 104%.

.