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US-China trade war intensifies as Beijing’s tariffs come into effect after Trump pause
China’s 84% tariffs on US products come into force amid market relief after Trump suspends steep reciprocal tariffs elsewhere
Donald Trump’s trade war with China has entered a new phase, 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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