In a bold announcement that has captured global attention, President Donald Trump warned that an extra 50% tariff could be imposed on goods from the Chinese mainland if it does not withdraw its 34% tariff on U.S. imports. This move marks a significant escalation in ongoing trade tensions.
At a time when nations hit by U.S. tariffs are announcing their own countermeasures and forging new trade deals, analysts and key U.S. business leaders have voiced concerns over the potential adverse impact on the U.S. economy. They suggest that such tariff escalations may contribute to slower economic growth and increased market uncertainty.
The warning has also exposed divisions among Trump supporters within the White House, with conflicting views on the best path forward in navigating international trade challenges. While some see the tariffs as a necessary measure to strengthen domestic industries and negotiate favorable terms, others fear the broader economic repercussions.
As the global community watches closely, these developments highlight the delicate balance of trade policy in an increasingly interconnected world, reminding us that decisions made in one corner of the globe can ripple across all economies.
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Trump: extra 50% tariff on China if not withdraw its 34% tariff on U.S.
cgtn.com
