Trump, tariff
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Russia, Trump
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"Other trading partners observing these threats will have the same mistrust of the negotiation process," experts argue.
Official figures showed modest growth in the second quarter as exports shifted to other countries and Beijing invested in manufacturing and infrastructure.
International brands are spreading the cost increases globally to soften the blow in the American market, which means that Trump’s tariffs are hitting consumers worldwide
China accounted for 5.89% of all U.S. trade in May, its lowest percentage in decades. Trump’s tariffs or trade trickery? It’s hard to dispute it’s a remarkable shift.
The report on China’s gross domestic product was released as the U.S. took stock of the latest inflation figures, which showed that Trump’s tariffs were starting to push up prices. Prices of the products most exposed to tariffs, like household furnishings, jumped significantly in June.
Even with major American brands, a large portion of smartphones, laptops and TVs are overwhelmingly assembled in China, according to Robert Khachatryan, CEO at Freight Right Global Logistics, who highlighted that over the past few years, tariffs on these products raised import costs and squeezed retailers.
The Chinese economy cooled in the second quarter, but growth was in line with expectations despite pressure from U.S. tariffs.
Batteries Plus CEO Scott Williams said the chain has reduced its reliance on Chinese suppliers for car batteries in order to minimize tariff costs.
A surge of exports from Chinese manufacturers supported the growth, as customers and producers alike took advantage of the U.S.-China trade war ceasefire.
China reported a better-than-expected economic growth as the world’s second largest economy took advantage of a trade truce with the US amid President Donald Trump’s tariff offensive.
The president has earned a reputation for bluffing on tariffs. But he has steadily and dramatically raised U.S. tariffs, transforming global trade.