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In a dramatic move that could reshape global trade dynamics, President Trump has announced a 90-day pause on any new tariff hikes for most countries — over 75 nations in total. But let’s be clear: this is not a rollback. Existing blanket tariffs from Trump’s earlier trade policies remain firmly in place. The pause simply prevents further increases — for now.

But while the rest of the world catches its breath, China has just been hit with a sledgehammer.

Effective immediately, all Chinese goods imported into the U.S. are now subject to a staggering 125% tariff. Trump cited Beijing’s long-standing trade abuses and lack of “respect” for international norms as justification for the move. He made it clear: “China had their chance. They didn’t respect the deal. Now they pay the price.”

China wasted no time retaliating, raising its own tariffs on U.S. goods to 84% and filing a formal complaint with the World Trade Organization. Analysts expect Beijing to go even further in the coming weeks — potentially targeting U.S. tech, agriculture, and business operations on Chinese soil.

Meanwhile, the European Union is watching closely and has signaled it may impose selective tariffs of its own — including on iconic American exports like motorcycles and soybeans. Global markets are already reacting, with sharp declines in major indices and oil prices plunging to multi-year lows.

What we’re seeing isn’t just trade friction — it’s the revival of a full-blown economic cold war between the world’s two largest economies. And this time, neither side seems willing to blink.