President Donald Trump announced a steep 245% tariff on Chinese goods retaliating against Beijing’s 125% duty on American products.

This move intensifies the escalating trade war between United States and China with both nations imposing tit-for-tat tariffs.

Trump’s decision follows a previous tariff hike to 145% on Chinese imports. White House stated that negotiations with other countries on tariffs continue. But China’s retaliatory measures prompted this sharp response. However, Beijing insists that Washington is responsible for starting this trade conflict.

Chinese Foreign Ministry spokesperson Lin Jian, speaking Wednesday, emphasized that Beijing does not seek a trade war but will take necessary measures to protect its rights. He urged the U.S. to cease tariff threats and engage in dialogue to resolve tensions.

Analysts express concern over the trade war’s impact on the global economy. Reports from United Nations Conference on Trade and Development. And World Trade Organization warn that this escalating conflict could trigger a global market slowdown.

Amid these tensions Italian Prime Minister Giorgia Meloni arrived in Maryland Wednesday for a U.S. visit. She is scheduled to meet Trump Thursday to discuss bilateral issues with a focus on resolving tariff-related disputes between U.S. and Europe.

Reuters reports that addressing U.S. tariffs on European goods which have fueled transatlantic friction is a key goal of Meloni’s trip.

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As U.S.-China trade war deepens, global markets brace for potential economic fallout while diplomatic efforts intensify to mitigate the crisis.