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The New Republic reported that US Treasury Secretary Scott Bessent may leave the Trump administration after the "reciprocal tariff" announcement. Bessent, once a hedge fund manager, is isolated. His frustration comes from Trump's tariff policy, which he warned could escalate trade tensions. Despite his urging against retaliation, foreign leaders may respond. Bessent previously downplayed tariff impacts, but experts say they harm vulnerable Americans.
Bolivia warned the US new tariff policy might spark a global trade war. Bolivia's Foreign Ministry condemned the US for imposing new import tariffs, saying these violate WTO principles and could lead to trade contraction. It criticized the US for protectionist actions despite free - market talk. Bolivia called for coordinated responses via multilateral and regional forums, and pledged to support exporters and diversify trade.
Mexico will invest $4.1 billion from 2025-2030 to strengthen food sovereignty and cut import reliance due to new US tariffs.
On the ever-evolving geopolitical chessboard, trade has emerged as one of the most potent weapons. The recent decision by the People's Republic of China to impose a 34?percent tariff on all US imports marks a turning point in a long-standing economic conflict. But this move is not an act of provocation — it is a necessary defense against an ongoing campaign of pressure, containment?and provocation from Washington.
UN Secretary-General Antonio Guterres warns that "nobody wins in a trade war," his spokesman said on Friday.
The Trump administration's latest tariff policy to cancel tax exemptions on low-value packages from China will disrupt the international trade order and increase costs for US consumers, according to Chinese industry associations and experts.
China fired off a sweeping package of robust countermeasures on Friday — including a 34 percent tariff hike and rare earth export controls — in response to the latest round of sweeping tariffs adopted by the administration of United States President Donald Trump.
China launched a series of countermeasures, including export controls on rare earth elements and new tariffs, firing back at the latest round of bullying tariffs imposed by the Trump administration.
The article discusses the impact of new US auto tariffs. Key points: 1) Donald Trump announced 25% tariffs on foreign - made cars, driving up prices. 2) Consumers like Scott Jones rushed to buy foreign - made cars to avoid price hikes. 3) Critics warn tariffs could harm manufacturers and consumers, disrupt supply chains, and raise production costs. The auto industry braces for widespread consequences.
Although the United States administration has tried to make the additional tariffs it is imposing on countries look somewhat lenient by calculating them based on how each country taxes goods from the US, and making the rates lower than the "reciprocal" level the US president threatened, the impact of the tariff hikes announced on Thursday will nonetheless be comparable to the country dropping a nuclear bomb on the world trade system, as some observers have said.
The United States' latest wave of tariff hikes may have the consequence of further strengthening trade cooperation between China and its other key trading partners, according to Chinese and foreign analysts.
After US President Trump announced "reciprocal tariffs" on imports from multiple countries, investor sentiment worsened. Key points: Japanese stocks plunged and yen strengthened. Japan, South Korea and Australia's leaders called for responsive measures. Analysts warned of global economic slowdown. Conclusion: Japan and China should develop a free trade area. South Korea should negotiate with the US. Australia should uphold the rules - based order.
The latest round of the United States' tariff increases is likely to prompt China and its key trading partners, including South Korea, Japan, the Association of Southeast Asian Nations, and the European Union, to expand trade cooperation among themselves to sustain foreign trade and build a buffer against rising unilateralism, said Chinese and foreign scholars on Thursday.
China firmly opposes the United States' announcement of "reciprocal tariffs" on all its trading partners and has vowed to take resolute countermeasures to protect its own interests, said the Ministry of Commerce on Thursday.
Despite the aggressive "reciprocal tariff" policy announced by the White House, senior economists believe that China's strong domestic consumption potential and its people-centric investment strategies are well-positioned to offset the risks posed by these tariff hikes.
The US' imposing of so-called reciprocal tariffs on its trading partners is like an undersea earthquake that will create a tsunami of turbulence and trouble for the global economy.
Washington's latest tariff policy is "destructive for the United States and disruptive for the world," said Jeffrey Sachs, a world-renowned professor of economics and director of the Center for Sustainable Development at Columbia University.
