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Swaminathan Aiyar highlights the escalating tension of the trade war initiated by Trump's tariffs on Canada, Mexico, and other nations, predicting retaliation. Europe, tired of Trump's actions, is ready to push back. The global geopolitical crisis and Trump's aggressive stance towards Ukraine suggest prolonged conflict and potential economic consequences for the USA.

US-China Tariff War: China has announced additional tariffs of 10-15% on certain U.S. imports, intensifying trade tensions. This move follows sweeping tariff hikes by the U.S. on imports from China, Canada, and Mexico, raising concerns about global economic stability. With trade relations under strain, retaliatory measures from Canada and Mexico further complicate the landscape. Experts warn of rising costs for businesses and consumers, disrupted supply chains, and diplomatic fallout.