From DW News.

China is hitting back at US President Donald Trump’s tariffs. Starting next Thursday Beijing says it will impose a 34% levy on all goods imported from the US. Global markets are continuing to plunge in the wake of the huge trade shake-up.

US stocks saw their biggest one-day drop since the start of the pandemic 5 years ago. The head of the International Monetary Fund says US tariffs pose a significant risk to the global economy at a time when growth was already weak.

Trump has brushed off all the market turmoil, saying the US economy WILL benefit in the long run from having more leverage with trading partners.

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