#China Raises #Tariffs on US Imports to 125%
Beijing’s retaliation came after the White House had raised its tariff on Chinese goods to 125%, on top of an existing 20% tax.
#Trump #economy #inflation #recession
https://www.nytimes.com/2025/04/11/business/china-tariffs-125.html?smid=nytcore-ios-share&referringSource=articleShare&sgrp=p&pvid=B9CDA4A8-BA7F-461B-847E-3111A8359829
#China said its new #tariffs would take effect on Saturday.
The world’s two biggest economies have been engaged in a fast-moving tit-for-tat that has seen the cost of trade soar over the past two weeks.
On Friday, China’s top leader, #Xi Jinping, spoke publicly about the tariffs for the first time since Washington & Beijing started hitting each other with progressively higher levies this month.
“There are no winners in a tariff war,” he said.
#China said the imposition of “abnormally high #tariffs” violated international economic & trade rules & “goes against basic economic laws & common sense,” adding: “It is a completely unilateral, bullying & coercive act.”
#Trump #economy #inflation #recession #geopolitics #RevengePolitics
The main casualty in all this is the #US #dollar.
For 80 years, it's been the mainstay of the #financial system & the ultimate of safe havens, along w/ #Treasuries.
But w/investors now doubting the reliability of the #UnitedStates as a #trading partner & fears creeping in about the stability of the #bond market, the dollar is bearing the brunt.
#Trump #economy #inflation #recession #geopolitics #RevengePolitics
https://www.reuters.com/world/trump-tariffs-live-markets-whipsaw-trade-war-fuels-global-recession-fears-2025-04-11/
The premium investors demand to hold #US Treasuries rather than #German #Bunds - now apparently one of the safe havens of choice - has exploded.
It's heading for its biggest weekly increase since the 1990s, which reflects the extent to which investors are dumping #Treasuries.
The dollar is at the heart of it &, with #markets, it's always what's beneath the surface that can cause the most damage.
#Trump #tariffs #economy #inflation #recession #geopolitics #RevengePolitics
Nonilex