Nepal, April 27 -- On April 2, 2025, United States President Donald Trump declared "Liberation Day" and imposed sweeping "reciprocal tariffs" on foreign imports. The policy established a 10 percent base tariff, with additional duties applied to specific countries. However, the White House abruptly paused most measures for 90 days, excluding Chinese imports, after global markets plunged and federal debt rates soared. In response, China vowed to "fight to the end," imposing retaliatory monetary and non-monetary duties on US goods and companies.

This escalation has brought the world's two largest economies face-to-face in a full-blown trade war, and the global economy has stumbled in between. It remains unclear what the White House will do ...