China's economy is already struggling. Growth has slowed dramatically in recent years, there is very high youth unemployment and a lot of low paid migrant workers.

China said Friday that it will impose reciprocal 34% tariffs on all imports from the United States from April 10, making good on a promise to strike back after US President Donald Trump escalated a global trade war.

China escalated the global trade conflict on Friday by imposing an additional 34% tariff on U.S. goods, following President Donald Trump's sweeping tariffs earlier this week. Crude prices, already under pressure from Trump's tariffs and an anticipated increase in OPEC+ production in May,