Articles in this Cluster
11-04-2025
US President Donald Trump had five key goals when he introduced tariffs: securing better trade deals, boosting American industry, confronting China, raising revenue, and lowering prices for US consumers. After a partial reversal of his tariff plan, suspending higher tariffs on most countries for 90 days, some progress has been made in achieving these goals. Trump's goal of securing better trade deals is likely to be achieved as the US is in negotiations with several countries, including South Korea and Japan. However, his goal of boosting American industry is uncertain due to the unpredictability of his tariff moves. Trump's confrontation with China is ongoing, but it comes with significant risks. The US is likely to raise revenue from tariffs, but this may be short-lived if Americans switch to domestic production. Finally, Trump's goal of lowering prices for US consumers is unlikely to be achieved as tariffs are expected to drive up consumer prices, with lower-income Americans being hardest hit.
11-04-2025
The U.S. film industry relies heavily on the Chinese market, with the average U.S. film making around 10% of its gross from China. China's Film Administration announced it would "moderately reduce" the number of U.S. films it imports in response to new tariffs. Some Chinese bloggers suggested a potential ban on American movies, which could significantly impact Hollywood's revenue and production budgets. Industry experts warn that losing revenue from China could lead to reduced budgets and potentially impact the number of streaming services available. The trade tension comes as the industry is still recovering from labor strikes and the COVID-19 pandemic.
11-04-2025
China has announced it will raise tariffs on U.S. goods from 84% to 125%, effective immediately, in response to the U.S.'s imposition of "abnormally high tariffs" on China, which it says violates international trade rules. The move escalates the ongoing trade war between the two countries, with the U.S. having imposed total tariffs of 145% on China. China's Commerce Ministry stated it will "resolutely counterattack" if the U.S. continues to "substantially infringe on China's interests." The announcement led to a slump in European stock indexes and increased concerns about recession risk.
11-04-2025
China has retaliated against US tariffs by raising its levies on US goods to 125% from 84%, effective April 12, according to the Chinese Finance Ministry. The move comes after the US President Donald Trump's latest executive order boosted tariffs on China to 125%, on top of a 20% fentanyl-related tariff, making the total US tariff rate on Chinese imports 145%. China's Finance Ministry stated that further US tariff increases will "no longer make economic sense" and that there is "no longer a market for US goods imported into China." Despite the escalation, a Chinese Commerce Ministry spokesperson said Beijing is open to negotiating with the US on an equal footing, while Chinese President Xi Jinping emphasized that "there is no winner in a tariff war."
11-04-2025
Danish shoppers are boycotting U.S. products due to President Donald Trump's posturing over Greenland and trade tariffs. Salling Group, which owns several Danish supermarket chains, has introduced a labeling system to help consumers identify European-owned brands. Many shoppers are choosing to avoid U.S. products, with some citing Trump's policies and others preferring European products due to differing standards. The boycott is part of a larger trend in Europe, with the #BoycottUSA hashtag spreading on social media and consumers turning away from U.S. travel destinations. Some consumers are prioritizing European products, but others are driven by price and may not sustain the boycott long-term.
11-04-2025
European stock markets ended lower on Friday after a volatile week, as concerns over a trade war between the US and China mounted. The pan-European Stoxx 600 index fell 0.6%, while Germany's Dax and France's CAC 40 were down 1.6% and 0.9%, respectively. The UK's FTSE 100 rose 0.23% after data showed the British economy grew more than expected in February. The euro gained 1.8% against the US dollar to its highest level since February 2022. China's retaliation to US tariffs by raising its own tariffs on US goods to 125% escalated trade war concerns. The EU's top economic official warned that a trade war would hurt the US more than Europe, with US GDP potentially falling by 0.8-1.4% by 2027.
11-04-2025
Wedbush analyst Dan Ives states that Apple is the U.S. tech company most negatively impacted by President Trump's tariffs on China. About 90% of iPhones are manufactured in China, and if tariffs remain, iPhone prices could jump to $2,000. Over 50% of Macs and 75-80% of iPads are also produced in China. Ives estimates that if tariffs stick, Apple will have to raise iPhone prices significantly. Apple shares have fallen over 14% in April due to the tariffs.
11-04-2025
U.S. Energy Secretary Chris Wright is optimistic about the U.S. shale industry despite falling oil prices, saying it will "survive and thrive." Wright, a former shale executive, cited the industry's past resilience during the 2014-2016 price slump, when it innovated and reduced costs. Although oil prices have dropped around 22% in the last year, with current prices below the estimated $65 per barrel needed to keep shale producers viable, Wright remains bullish. He sees alignment between the U.S. and its oil-rich Arab Gulf allies on energy strategies, focusing on abundant and affordable energy for a prosperous future.
11-04-2025
Despite potential strain on US relations with both China and the EU due to Trump's tariffs, analysts say that China and the EU are unlikely to form a close alliance due to underlying issues such as trade competition, overcapacity concerns, human rights, and technological surveillance mistrust. While China may attempt to forge a closer bond with the EU, deep practical constraints and existing tensions will likely limit cooperation, and the EU may even toughen its trade stance against Beijing in response to trade diversions caused by US tariffs.
11-04-2025
The escalating trade war between the US and China, triggered by President Donald Trump's tariff hikes, risks causing catastrophic damage to both nations and the global economy. Trump's strategy appears to be improvising, using a "madman theory" approach to pressure China into negotiations. However, Chinese President Xi Jinping has responded aggressively, raising tariffs on US goods to 125% and stating that China is "not afraid." The US-China trade war could have severe consequences, including inflation, recession, and a decline in consumer confidence, as the two economies are deeply intertwined. Trump's tactics have been criticized for being unpredictable and potentially backfiring, given China's sensitivity to Western pressure and its nationalistic policymaking. The administration's attempts to isolate China by forming trade agreements with allies may also be challenging due to Trump's strained relationships with other nations. Trump's "endgame" strategy remains unclear, with the president seemingly unconcerned about the potential consequences of a full-blown trade war.
11-04-2025
The US-China trade war escalated as China raised its retaliatory tariffs on US imports to 125%, prompting a negative reaction in international markets and fueling fears of a global recession. Chinese leader Xi Jinping said his nation was "not afraid" of the trade war, while US Trade Representative Jamieson Greer stated that the US had not initiated trade negotiation talks with China. The Dow fell 0.5%, the S&P 500 dropped 0.4%, and the Nasdaq was 0.2% lower when markets opened. Meanwhile, President Donald Trump is set to undergo his annual physical examination, and the White House is expected to hold a press briefing on tariffs. The European Union has threatened to tax US tech firms if tariff talks with the US fail, and Xi Jinping will embark on a foreign trip to Vietnam, Cambodia, and Malaysia next week.
11-04-2025
President Donald Trump's administration has 90 days to negotiate 150 trade deals after announcing a pause on "reciprocal" tariffs, but financial markets are skeptical about the feasibility of this plan. Stocks have been volatile, and other markets, such as oil, bonds, and the dollar, are sending signals of deep skepticism. Despite the administration's optimism, with Treasury Secretary Scott Bessent claiming over 70 countries have asked to meet with US representatives, trade deals are complex and typically take years to negotiate. The US tariffs on China are at 145%, and China has retaliated with 125% tariffs, which could cause significant damage to both economies. Economists believe much of the damage from Trump's trade policies has already been done, and the likelihood of a recession is high, with JPMorgan and Goldman Sachs estimating it's a coin flip.
11-04-2025
Chinese leader Xi Jinping stated that China is "not afraid" as Beijing raised tariffs on US goods to 125% in response to Trump's tariffs on China reaching 145%. Xi said that China's development has relied on self-reliance and hard work, and it will remain confident and focused on managing its own affairs. The trade war between the two economies has caused international market turmoil and fueled fears of a global recession. China has indicated it won't engage in further tariff hikes but has other options, including suspending cooperation on fentanyl and limiting market access for US services. Xi has launched a diplomatic effort with other trade partners, visiting Southeast Asia and meeting with European leaders to deepen ties and cast China as a reliable partner.
11-04-2025
President Trump's unilateral actions on tariffs have marked a significant break with over 200 years of US history, where Congress had set the direction of trade policy. Economist Douglas Irwin notes that Trump's go-it-alone stance is unprecedented and has risked a global trade war since the 1930s. The consequences are unfolding, with stock markets swirling, and economists warning of a potential global recession and geopolitical shifts. Congressional resistance has begun, but the odds of successfully rolling back the tariffs are low. Historically, changes in trade policy took decades of consensus building, and it was Congress that played the dominant role, not the president. The article also draws parallels with the Smoot-Hawley Tariff Act of 1930, which led to a catastrophic global trade war and worsened the Great Depression.
11-04-2025
China's leader Xi Jinping is standing firm in a tariff confrontation with US President Trump, despite concerns that a prolonged trade war could worsen China's economic struggles. Xi has raised tariffs on US imports to 125%, echoing his past refusal to yield during the Covid pandemic. With his authoritarian grip on power and a narrative of Western hostility, Xi can play the long game, but he faces a test in maintaining public support amidst economic pain. China's propaganda machinery is rallying the country for a protracted fight, blaming the US for the trade war. Analysts believe Xi may accept a compromise if offered by Trump, as China's economy is vulnerable to the tariffs, which threaten $400 billion in annual exports to the US.
11-04-2025
China has raised tariffs on US imports to 125% in response to President Trump's tariffs, escalating a trade war between the two nations. Trump's administration had imposed a minimum tariff rate of 145% on Chinese exports to the US. The move has caused stock markets to fluctuate, with the S&P 500 moving between gains and losses. US farmers, particularly in red states that supported Trump, are expected to be heavily impacted by the loss of China as an export market. The trade war has also led to concerns of a global recession, with BlackRock's CEO Laurence Fink warning that the US has become a "global destabilizer" and is "very close, if not in a recession now." Additionally, consumer sentiment has plummeted, with expectations for inflation surging to 6.7% in the next year, the highest since 1981. The trade war is also affecting the auto industry, with Tesla's US sales declining 9% in the first quarter, while overall electric vehicle sales rose 11%.
11-04-2025
The Trump administration plans to place migrants in the Social Security "death master file" to cut off their access to financial services, while China has raised tariffs on US imports to 125% in a deepening trade fight that poses a new threat to US farmers.
11-04-2025
China has raised tariffs on American goods to 125%, matching the level announced by the US, and has stated that it will "ignore" any future US tariff hikes, calling them "economically meaningless."
11-04-2025
Chinese netizens have expressed patriotic and anti-American sentiments online amid the escalating US-China trade war, with some vowing to stop selling American products or charge American customers higher prices. Business owners have displayed messages online, including claims of adding a service fee equivalent to the tariffs on Chinese goods imposed by the US. The sentiments are mixed among Chinese internet users, while state media has maintained a defiant tone, reaffirming China's willingness to "strike back" against US tariffs.
11-04-2025
The US-China trade war has escalated with both sides raising tariffs on each other's products. China's goods face a total tariff burden of around 156% in the US, including "reciprocal" duties of 125%, earlier 10% tariff hikes, and pre-existing tariffs. Meanwhile, China has also raised duties on US imports by 125% in the latest tit-for-tat exchange.
11-04-2025
China has raised its tariffs on US products to 125% in response to the ongoing trade dispute with Washington, with Chinese leader Xi Jinping calling for the EU to team up against what he termed "bullying" by the US. Xi made the comments during a meeting with Spain's prime minister, Pedro Sánchez, as part of an effort to shore up support from other trading partners. The move comes after US President Trump paused tariffs on dozens of countries but excluded China, instead increasing duties on Chinese imports to 145%. The escalating trade tensions have sparked market turmoil, with Asian indices and oil prices falling, and have raised fears of a recession.
11-04-2025
President Donald Trump has imposed tariffs of 145 percent on all Chinese goods, effectively launching a trade embargo on the world's largest exporter at a time when China's economy is already struggling with a property market slump, high youth unemployment, and weak domestic spending that threatens to turn into a deflation crisis. China has retaliated by announcing plans to impose an 84 percent tariff on imports of all U.S. products.
