China is urging global unity against what it calls Trump's 'trade tyranny' following the imposition of steep new US tariffs on Chinese goods. These tariffs, reaching 104%, are severely impacting Chinese exporters, causing significant financial strain and forcing businesses to restructure supply chains. While China hasn't announced retaliatory measures, it's reportedly considering options like banning Hollywood films. Economists warn of potential recessionary impacts, both in the US and globally, due to the expansive tariffs.

Prepared by Christopher Adams and reviewed by editorial team.