AI Summary:
President Donald Trump’s “reciprocal” trade tariffs kicked in on Wednesday. China now effectively faces a 104 percent levy on the goods it sells to the US. In response, China quickly raised its US tariffs to 84 percent. "China also wants to make a deal, badly, but they don’t know how to get it started," the US president wrote in a social media post. "We are waiting for their call. It will happen!” it didn’t happen. China’s Commerce Ministry said that Beijing “has the firm will and abundant means to take necessary countermeasures and fight to the end” despite growing tensions between the US and China, Washington and Beijing remain major trade partners. China’s economy has already been growing at a slower pace than when Trump first took office. China is struggling with deflation, a crisis-stricken property market and elevated debt levels. Beijing’s official GDP growth figure was 6.6 percent in 2018, when Trump launched his first trade war against China.

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