What Happened |
China hiked its levies to 125% on U.S. imports Friday, to keep its stance against President Donald Trump and his global measures surrounding tariffs. |
President Trump's decision to single out the world's second-largest economy for higher duties was reportedly dismissed as 'a joke.' |
A spokesperson for China's Ministry of Commerce told reporters Friday, that the Trump administration's approach was a 'numbers game which has no practical significance on economics.' |
China's statements come after the Trump administration imposed a minimum tariff of 145% on Chinese goods imported to the U.S. |
Top leader, Xi Jinping, reportedly spoke publicly for the first time about tariffs since Washington and Beijing began going tick-for-tack with higher levies. |
'There are no winners in a tariff war, and going against the world will only result in self-isolation,' he said, according to the New York Times. |
Xi had met Friday with Spain's Prime Minister, Pedro Sánchez. |
The European Union, which Spain is a member of, reportedly pursues more trade with China through a fair and reasonable global governance system. |
But Sánchez said, 'Trade wars are not good, nobody wins. And this is clear, the world needs both China and the United States to talk.' |
|
Why It Matters |
The ongoing battle between the U.S. and China threatens to rip apart trade ties between the world's two largest economies. |
China has called out to other nations to form a united front after the U.S. imposed a 145% tax levy on Chinese goods. |
According to reports, China is attempting to compel Washington to retreat despite the U.S. already receiving 'serious' trade deal offers with roughly 20 nations. |
Trump authorized a 90-day pause and a substantially lowered reciprocal tariff for all other nations excluding China 'based on the lack of respect that China has shown to the world's markets.' |
More than 75 countries have called U.S. representatives to negotiate trade solutions with the Trump administration. |
American and Chinese companies have reportedly grown dependent on each other over the years amid mutual commerce. |
However, the strong displays of retaliation have forced these business allies to shift positions, which has caused market disruption globally. |
The U.S. goods trade deficit in 2024 with China was $295.4 billion. |
How It Affects You |
Although Trump has pointed to recent market struggles as 'transition problems,' he still believes the country is doing well on its tariff policy. |
'In the end, it's going to be a beautiful thing,' Trump has stated. |
Chinese officials say the U.S. escalation of tariffs is a mistake and have even accused the U.S. of 'blackmail.' |
Trump has accused China of issuing retaliatory tariffs and for allowing a flow of synthetic drugs that have entered the U.S. |
A resolution with China appears nowhere in sight. |
Experts project that the back-and-forth tariff hikes have increased the likelihood of a 2025 recession. |
During Trump's pursuit to rectify trade practices, there's concern additional levies will heavily affect everyday consumers and small business owners. |
|
More breaking news below… |
Instead of paying for phones, your phone can now pay YOU. While you pay Apple $1,000+ for a phone that profits from all your data and usage, Mode Mobile has flipped the script, inventing smartphone technology that pays users for their screen time (45M users saved and earned $325M+ already). More information here… |
Russian missile attack on town of Sumy serves as a reminder that war is still raging in Ukraine. Read more here… |
Pakistan and Turkey sign new agreement to explore the fourth largest known oil and gas deposits. Read more here… |
U.S. consumer sentiment declined sharply as inflation expectations have surged to some of its highest levels amid fears of a global economic recession. Read more here… |
A former Meta exec claims the company aided China's AI and censorship efforts—raising urgent questions about tech loyalty and national security. Read more here… |
Trump's tariff policies are rattling markets—and your retirement savings could take a hit. Here's what's happening, why it matters, and what to do. Read more here… |
|
Disclosures |
*Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur. |
*The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period. |
*Please read the offering circular and related risks at invest.modemobile.com. |
Tidak ada komentar:
Posting Komentar