Trump's triple-digit tariff essentially cuts off most trade with China, says economist
1. Trump's tariffs on China increased to 145%, cutting most trade. 2. Market declines followed the confirmation of the new tariff rate. 3. Expectations of ongoing trade tensions remain uncertain until July. 4. Tariff policies could lead to a historic revenue increase of $171.6 billion. 5. China retaliated with increased levies on U.S. imports, now at 84%.