China retaliated against President Trump's new tariffs on Chinese goods by imposing a 125% tariff on US products. This escalation impacts the $582.4 billion US-China trade relationship, severely affecting Chinese exporters. Business owners in Yiwu, home to the world's largest wholesale market, express concerns about lost orders and potential job losses. One exporter stated that US customers, comprising 10% of her business, haven't placed Christmas orders due to the tariffs. Others fear the economic consequences of the trade war, particularly given China's current economic slowdown.

Prepared by Christopher Adams and reviewed by editorial team.