Biden's Tariffs on China Heighten Trade Tensions Across Global Markets
Tuesday, 17 September 2024, 22:00
Biden's Tariffs Spark Global Trade Tensions
Biden's tariffs on China, including 100% on EVs, mark a pivotal moment in international trade relations. As the US, EU, and emerging markets like Brazil and India raise tariffs, analysts predict significant implications for China’s economy.
The Ripple Effect of Tariffs
- China faces threats to its crucial export growth.
- US tariffs jeopardize over $550 billion in exports.
- India announces tariffs on steel, raising local industry stakes.
Concerns over excess capacity in China could amplify trade wars, with less-developed countries bracing for their share.
International Reactions and Adjustments
- Mexico imposes temporary tariffs on steel and aluminium.
- Japan investigates tariffs on rubber products from China.
As tariffs escalate, the Ministry of Commerce in Beijing responds, calling measures discriminatory and pledging to protect Chinese companies’ rights.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.