China has responded to the United States raising tariffs by imposing a new tax on American goods, increasing it to 125%. This retaliation comes after the White House raised tariffs on China to 145%. Chinese President Xi Jinping has stated that there are no winners in a tariff war, emphasizing that they do not fear economic suppression. The ongoing trade war between the two countries has led to escalating tariffs, with President Donald Trump and President Xi exchanging responses. The situation has caused uncertainty over the impact on the global economy and has raised concerns among business leaders. Despite the escalating tensions, some CEOs are hesitant to speak out against the tariffs. The effects of the tariffs are being felt by consumers, with potential price increases on everyday goods. Amidst the trade conflict, there have been personal appeals made by individuals like Elon Musk to Trump in an attempt to influence tariff decisions. The situation remains fluid, with Trump pausing some tariffs for a 90-day period, sparking a rally in the stock market. The trade war between the US and China continues to evolve, with both countries demonstrating a firm stance in their respective positions.
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