Trump’s tariffs take aim at China and Asia’s rising economies | CNN Business

Hong Kong CNN  — 

President Donald Trump unveiled 54% tariffs on all Chinese imports into the United States Wednesday as part of his sweeping “Liberation Day” reset of American trade global policy.

The tariffs on China, the second top importer to the US behind Mexico, are poised to push a major reset of relations and escalate a trade war between the world’s two largest economies.

China blasted the move and vowed to “resolutely take countermeasures to safeguard its own rights and interests.”

“The United States has drawn the so-called ‘reciprocal tariffs’ based on

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