The US is likely to face significant economic repercussions due to escalating trade conflicts, according to Chinese state media. As President Donald Trump continues to impose tariffs on various countries, the US could soon see retaliatory actions in the form of high tariffs on American goods.
Barely two months after returning to the White House, Trump has reignited trade disputes with major economies, including China, Canada, Mexico, and the European Union. The US president is threatening reciprocal tariffs on any country that taxes US imports, with new levies potentially coming into effect on April 2. In response, China has already enacted countermeasures in February and March, following two rounds of tariffs from the US.
China’s state-backed nationalist outlet, Global Times, warned that US trading partners would retaliate. The publication claimed that many countries could respond by imposing high tariffs on US exports. Beijing has already slapped tariffs on US agriculture and food exports, targeting specific industries. The Chinese government has also implemented export and investment restrictions on 25 US companies and suspended soybean import licenses for three American firms. Additionally, China halted imports of US logs and initiated investigations into some US fiber optic products.
As these tensions continue, other countries are looking to reduce their reliance on the US. Many are actively seeking new trade partnerships to diversify their economic ties. These efforts could lead to the creation of new trade alliances, further isolating the US in global trade.
In the meantime, China’s government is taking steps to support foreign companies within its borders. The country’s commerce ministry plans to implement measures to help these firms expand their sales despite external pressures.
For more business news updates, visit Dc brief.
