The U.S. and China are locked in a deepening trade war after President Trump announced steep new tariffs, including a potential 104% duty on Chinese imports. China retaliated by accusing the U.S. of “economic blackmail” and vowing to “fight till the end.” Key Developments:

U.S. Tariffs: Trump imposed 34% tariffs on China (on top of existing 20% duties) and threatened an additional 50% hike, which could bring total tariffs to 104% if China refuses to back down. China’s Response: Beijing condemned the move as “unilateral bullying” and warned of counter-tariffs on U.S. goods, potentially targeting agriculture and tech sectors. Global Impact: