Former President Donald Trump's second term promises a resurgence in tariffs, targeting partners and rivals on issues like migration and drug trafficking. Trump aims to protect US industries, but this strategy could trigger new trade wars, impacting the global economy, US-China relations, and alliances. Trump's potential tariffs on Mexico, Canada, China, and BRICS nations, as well as potential increases on European food and drinks, raise concerns among US businesses about rising import costs and retaliation.
WASHINGTON, D.C. — Donald Trump 's second presidential term promises a return to tariffs as he pressures partners and rivals to tackle everything from migration to drug trafficking, while protecting US industries — in moves that could trigger new trade wars .Even before taking office, Trump has raised the prospect of fresh levies on companies, countries and groups of states as he seeks to implement his agenda.
Trump has used tariffs as a bargaining tool and will probably do so again, said Joshua Meltzer of the Brookings Institution.But China is signaling pushback, and Europe is more prepared policy-wise, he told Agence France-Presse .Governments appear to have 'reached a similar conclusion that they are better off threatening retaliation at least at this stage, rather than capitulating,' Meltzer added.
TARIFFS TRUMP TRADE WARS CHINA ECONOMICS
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada's Deputy PM Freeland Resigns Over Trump TariffsChrystia Freeland, Canada's Deputy Prime Minister and Finance Minister, resigned after disagreeing with Prime Minister Justin Trudeau on how to respond to US President-elect Donald Trump's tariff threats.
Read more »
Trump Threatens EU with Tariffs Over Trade DeficitUS president-elect Donald Trump threatened the European Union with tariffs unless it reduces its trade deficit with the US by purchasing more American oil and gas.
Read more »
Trump threatens EU with tariffs over oil and gas importsThe European Commission says it is ready to discuss with Trump how to strengthen what it described as an already strong relationship, including in the energy sector
Read more »
Canadian foreign, finance ministers to meet Trump team on tariffsOTTAWA, Canada — Key members of Canadian Prime Minister Justin Trudeau's cabinet traveled to Florida on Thursday for talks with representatives of US President-elect Donald Trump, as Ottawa works to avert a potentially devastating trade war.
Read more »
Canadian Cabinet ministers meet with Trump's nominee for commerce secretary in bid to avoid tariffsTORONTO — Two Canadian Cabinet ministers left a meeting at Mar-a-Lago on Friday without assurances President-elect Donald Trump will back away from threatened tariffs on all products from the major American trading partner.
Read more »
Trump Tariffs and Rate Cut Hopes Shake MarketsWorries about potential Trump tariffs and dwindling expectations for interest rate cuts sent shockwaves through global stock markets on Wednesday. A report suggesting Trump may declare a national economic emergency to justify wide-ranging tariffs fueled market anxieties.
Read more »