<h1>Trade Tensions Spark Global Economic Uncertainty as US Imposes Massive Tariffs and China Retaliates with Steep Import Taxes</h1> A trade war escalated after a US presidential administration imposed significant tariffs, causing global stock markets to plummet. China responded by announcing a 34% tax on US imports. International leaders, including those from Britain and France, expressed concerns about potential economic impacts. The administration defended the tariffs as an 'economic revolution,' while China criticized the move as unilateral and damaging to global trade relations. Markets showed significant declines across major indices.