[ianch99]

Game on

China imposes 34% reciprocal tariffs on imports of US goods in retaliation for Trump’s trade war

China said Friday that it will impose reciprocal 34% tariffs on all imports from the United States from April 10, making good on a promise to strike back after US President Donald Trump escalated a global trade war.

On Wednesday, Trump unveiled an additional 34% tariff on all Chinese goods imported into the US, in a move poised to cause a major reset of relations and worsen trade tensions between the world’s two largest economies.

“This practice of the US is not in line with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice,” China’s State Council Tariff Commission said in a statement announcing its retaliatory tariffs.

Meanwhile ...

J.P.Morgan lifts global recession odds to 60% as US tariffs stoke fears

The risk of a U.S. and global recession this year have risen to 60% from 40% earlier on the heels of President Donald Trump's sweeping reciprocal tariffs, Wall Street brokerage J.P. Morgan said.

I wonder what all those Trumpers think about their crashing 401K (pension) funds?