‘Golden age’: Trump hails trade war as recession fears grow

Donald Trump insisted that the trade war he launched against numerous countries is "going well," despite growing fears of a potential recession and China’s response to the steep tariffs recently imposed.

While the U.S. president remains upbeat, many Americans are more pessimistic, particularly as the prices of everyday goods continue to rise.

The White House maintains that the American economy is nearing a "golden age," even though Trump has recently implemented a 90-day pause in the trade war, with most countries now facing capped tariffs of 10% during this period.

On Friday, Beijing announced that it would impose 125% tariffs on American goods in retaliation.

"Even if the U.S. continues to impose even higher tariffs, it would no longer have any economic significance and would go down as a joke in the history of world economics," China’s finance ministry said.

Financial markets had a turbulent week, but the announcement of the tariff cap helped spark a recovery.

(QG - Source: The Guardian  - Picture : © Unsplash)