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Tag: tariff impact on consumers
Global Markets Stagger Under Heaviest U.S. Tariff Fallout in Recent Memory
In April 2025, former President Donald J. Trump, having returned to the White House, unveiled a sweeping new round of tariffs targeting China and other major trade partners, including the European Union, Canada, and Mexico. The most severe measures include tariffs of up to 145% on Chinese imports and steep increases on goods ranging from automobiles to electronics from allied nations. Though pitched as a bold assertion of economic sovereignty, this new tariff regime has already begun reshaping global markets, sparking retaliatory threats, and provoking urgent legal and political scrutiny.
Trump Demands Strongest Trade Deal Yet as U.S.-China Tariff War Reaches Boiling Point
On May 5, 2025, former President Donald Trump, now the presumptive Republican nominee for the 2024 presidential election, declared in an interview that he seeks a "fair" trade deal with China. The statement followed his recent proposal of sweeping tariffs, including a 10% levy on imports from most countries and an unprecedented 145% tariff specifically targeting Chinese goods. Though Trump emphasized that direct negotiations with Chinese President Xi Jinping were not imminent, he claimed that diplomatic backchannels between U.S. and Chinese officials remained active.