Trump's Tariff Turnaround: A Strategic Pivot in US-China Trade War
US President Trump temporarily suspends tariffs on major trade partners, except China, amid a global market crisis. The tariff on Chinese imports is sharply increased in a strategic shift focusing the trade war on US-China relations, causing a surge in global markets.
- Country:
- United States
US Treasury Secretary Scott Bessent highlighted a significant shift in the Trump administration's trade policies, announcing a temporary halt on tariffs for most of the country's major trading partners. Meanwhile, a 10 percent tariff remains on global imports.
Despite escalating tensions with China, President Trump opted to pause the reciprocal tariffs for 90 days, instead increasing the duty on Chinese imports to a staggering 125 percent. This move marks a pointed redirection of trade conflict focus solely with China amid global market unrest.
The announcement led to a boom in global markets, although specifics regarding the easing of tariffs on non-China partners remain unspecified. The administration's strategic pivot seemingly aims to de-escalate broader international trade tensions while intensifying US-China economic rivalry.
(With inputs from agencies.)
- READ MORE ON:
- Trump
- tariffs
- China
- US
- trade war
- economy
- Scott Bessent
- global markets
- imports
- US Treasury
ALSO READ
Sanctions Repeal Signals New Era for Syria's Economy
DoT–UNDP Workshop Charts Roadmap for Circular Economy in Telecom Sector
Germany's Economy: Slow Recovery on the Horizon
Putin's Press Conference: Key Remarks on Ukraine, Economy, and European Relations
Putin's Year-End Address: Insights on Peace Talks, Economy, and Global Relations
Google News