Trump Tariffs News LIVE Updates: US vs China Tariff War Xi Jinping Announces Reciprocal Tariffs in US-China Trade War
Chinese President Xi Jinping called on the European Union to join China in defending globalisation and opposing “unilateral acts of bullying,” in pointed criticism of President Donald Trump. (AP)Trump Tariff News | Trump Tariffs LIVE Updates: An escalation of China-US trade tensions stemming from uncertainties around Washington’s trade policy will undermine business confidence and consumer sentiment, adversely impacting growth in Asian countries, Moody’s Ratings said on Sunday. Economies with large domestic markets, such as India, may benefit from companies seeking access to these markets but any major shift in investment flows would occur over several years,” the global rating agency told PTI. Moody’s Analytics, another Moody’s firm, had last week cut India’s growth forecast for the 2025 calendar year to 6.1 per cent in 2025 from 6.4 per cent projected in February.
Escalating trade war: In his latest move, US President Donald Trump hit a 90-day pause on the imposition of reciprocal tariffs, with the exception of China on whom a 125 per cent tariff has been slapped. Beijing retaliated with raising its tariffs on US imports from 84% to 125% with President Xi Jinping denouncing the game of chicken via tariffs as “economic bullying”. Further, this has resulted in a bloodbath at the stock market across the world as fears of escalation between the world’s two biggest economies continues to rattle the global financial streets.
What lies ahead as uncertainty grows: The trade war ignited Trump has put the global supply chain in a crisis mode and the stock market seeing its worst fall since COVID-19 struck. Denouncing the Trump tariffs, a Chinese Finance Minry spokesperson said Washington’s repeated raising of tariffs “will become a joke in the hory of the world economy.” A Hong Kong University professor believes that if high tariff is sustained for the next six months or longer, “that would actually lead to a real effective decoupling between the American and Chinese economies,” AP reported.
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