⌨Trump's 104% tariffs on Chinese goods took effect this morning, triggering significant market reactions with the offshore yuan breaking 7.42 against the dollar and Asian Pacific stocks sliding. By midday, China responded forcefully, announcing additional 50% tariffs on US products, bringing the total to 84%, while releasing a white paper on China-US economic relations.
Simultaneously, Xi Jinping convened a Central Conference on Neighborhood Diplomacy, emphasizing building a "community with shared future" with neighboring countries – likely seeking regional allies amid trade tensions. State media deployed synchronized messaging publishing identical articles stating "the most important thing is to concentrate on doing our own things well" across multiple outlets.
The coordinated response continues patterns from earlier this week, with authorities projecting confidence despite market turmoil. Chinese exporters reportedly abandoned shipments mid-voyage to avoid Trump's crushing tariffs, while economic indicators showed March CPI decline may narrow to 0.2%.