Posts by tag: tariffs

China has declared it will respond firmly against Trump's plan to impose an additional 50% tariff on Chinese goods, escalating the trade conflict between the two nations. This move, coupled with previous tariffs, could result in a cumulative 104% duty on imports from China. Beijing labels these actions as U.S. bullying, pledging to defend its interests. The tension has led to volatility in global markets, stirring fears of inflation and recession.

President Trump declared a national emergency to tackle the U.S. trade deficit, enacting a 10% tariff on goods from all countries starting April 5, 2025, with higher tariffs for top deficit nations from April 9. The policy aims to combat unfair trade practices and bolster domestic industries, with specific focus on automotive exports affected by barriers in Japan and Korea.