China’s retaliation has only worsened the global stockmarket rout. American shares have so far fallen by another 5% after the announcement. Things could escalate. “CHINA PLAYED IT WRONG,” Mr Trump said on his social-media network. For once, he was right. Until this latest act of mimicry, China had seemed to be playing a cannier game.

It could take months for agreement on a meeting between President Trump and Xi Jinping, China’s top leader, as Chinese officials seek a scripted encounter.

Donald Trump’s decision to boost tariffs on almost every country will deal a blow to China’s economy. But it’s also handing Xi Jinping a rare opening to deepen relationships across the board, including with key US allies in Asia and beyond.

U.S. President Donald Trump signed an executive order on Wednesday that closes a trade loophole known as de minimis that has allowed low-value packages from China and Hong Kong to enter the United States free of duties.

Also, millions of Americans are at risk for tornadoes and “generational” flooding. Here’s the latest at the end of Wednesday.

Donald Trump’s second trade war is a battle of one against all. Reciprocal tariffs announced on Wednesday by the White House hit China with a hike of 34 percentage points, taking the fresh levies on exports from the People’s Republic up 54 percentage points in the 10 weeks since the U.

President Donald Trump's move to slap a 10% tariff on most goods imported to the United States, as well as much higher levies on dozens of rivals and allies alike, has intensified a global trade war that threatens to stoke inflation and stall growth.

The 34 percent tariff announced on Wednesday is in addition to two rounds of import taxes the president already imposed since January.

The sweeping new tariffs announced by President Donald Trump on Wednesday triggered a slump in global stock markets, with US markets having their worst day since the impact of the Covid pandemic in 2020.