Sou Hu Cai Jing·2025-12-09 14:12Group 1 - The trade war initiated by the Trump administration involved significant tariff increases on Chinese imports, starting with a 34% tariff that escalated to 145% by the end of April 2025 [1][5][11] - China's response included retaliatory tariffs on U.S. agricultural products, specifically targeting key states that supported Trump, such as soybeans and corn, which directly affected his voter base [3][5] - Major U.S. retailers like Walmart reported a 20% increase in prices for electronics and clothing due to rising import costs, leading to consumer dissatisfaction and supply chain issues [5][9] Group 2 - By mid-April, the escalating tariffs led to significant disruptions in the U.S. economy, with major retailers warning that high tariffs could sever supply chains and exacerbate existing problems [5][7] - The economic impact was felt broadly, with nearly 40% of American adults lacking $400 in emergency funds, indicating a vulnerability to rising prices [7] - As the trade war progressed, the U.S. stock market experienced volatility, with the Dow Jones index dropping over 10%, and investors began to sell off U.S. Treasury bonds [9][11] Group 3 - By June, Trump acknowledged the unsustainable nature of the 145% tariffs and indicated a need for significant reductions, as global capital began to flow out of the U.S. [11] - In November, after negotiations, an agreement was reached to lower tariffs, with China agreeing to increase purchases of U.S. soybeans by at least 12 million tons [13] - The trade conflict highlighted the need for dialogue between the U.S. and China, as both sides faced economic pressures and the realization that the trade war was not a zero-sum game [15]