Hong Kong
CNN
—
What was supposed to be a historic, era-defining trade war launched by US President Donald Trump against a range of countries has, for now, narrowed in on a singular target: China.
Trump announced a three-month pause Wednesday on all the “reciprocal” tariffs that had gone into effect hours earlier – with one exception, deepening a confrontation set to dismantle trade between the world’s two largest economies. Then on Thursday, Beijing made good on its vow to bring in its own retaliatory tariffs.
The pace of that escalation has been stunning. Over the course of a week, Trump’s tariffs on Chinese imports have jumped from 54% to 104% and now 125%…
