In a turbulent week for global markets, President Donald Trump doubled down on his tariff strategy, insisting it’s working for both the United States and the broader global economy — despite China ramping up its own tariffs on U.S. goods to a staggering 125%.
The latest escalation has sent shockwaves through financial markets. Wall Street seesawed, the U.S. dollar slid, and Treasury yields came under pressure, as investors tried to digest the deepening rift between the world’s two largest economies.
In a message shared Friday on social media, Trump remained resolute: “We are doing really well on our tariff policy. Very exciting for America, and the World!!! It is moving along quickly.”
Just days earlier, the President triggered confusion and volatility by announcing broad import taxes on dozens of countries — only to partially scale them back to 10% midweek. However, tariffs on Chinese goods remained elevated, further fueling tensions with Beijing.
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The initial market bounce following the rollback proved short-lived, as investors came to terms with a harsh reality: the U.S.-China trade war isn’t going away anytime soon. In fact, it’s accelerating.
“On the other side of the Pacific, Chinese President Xi Jinping made his first major remarks on the matter during diplomatic talks with Spanish Prime Minister Pedro Sánchez. Xi didn’t mince words, signaling a firm stance against American pressure.
We are not afraid,” he declared, while calling on the European Union and China to “jointly resist unilateral bullying practices.”
With rhetoric hardening on both sides and markets caught in the crossfire, the world is left wondering how much longer the global economy can ride out the storm — and who, in the end, will blink first.
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