Here’s how an all-out trade war between America and China will play out
The post Here’s how an all-out trade war between America and China will play out appeared on BitcoinEthereumNews.com.
The trade war between China and the US has gone nuclear, and every single human on earth is in major trouble because of it. On February 1, the Trump administration fired the first shot when it abruptly imposed a 10% tariff on every Chinese import, covering everything from electronics to clothing. Around 30 days later, Washington doubled down, raising the tariff to 20% on March 4. The message we were getting from those guys was that China was gonna pay for what Mr. Donald Trump personally calls decades of “unfair trade practices.” Oh but Beijing was ready for them. By February 10, China announced its own tariffs: 15% on coal and liquefied natural gas, 10% on oil and agricultural machinery. Then, on March 10, the real pain came—tariffs on chicken, wheat, and soybeans, a direct hit to US farmers who rely on Chinese buyers. The agricultural industry is a major Trump voter base, and China knew exactly where to apply pressure. Washington takes the fight beyond China But the White House wasn’t done yet. The Trump administration then announced the very next day that apart from China, it was coming for the EU, Canada, Mexico, and even South Korea too for some reason. The argument Trump made was that all trade partners must follow what the US calls “fair” trade practices. The entire global economy is living in fear right now. I mean, China and America are the two largest economies on earth. But Washington also claimed it was about national security, saying that depending on foreign metals was a risk, and with China being the world’s largest steel producer, the indirect hit was undeniable. Anyway, by March 12, a 25% US tariff on all Chinese steel imports went into effect, alongside an increase in aluminum tariffs to 25%. Then…
Filed under: News - @ March 7, 2025 8:28 am