China-US Trade War Intensifies: Trump's Tariff Tactics Face Global Scrutiny
The ongoing trade tensions between the US and China have reached a new inflection point this week, as Donald Trump's administration sends mixed signals on tariff implementation. While temporarily exempting smartphones and laptops from higher levies, the former president maintains these items remain under tariff consideration, creating market uncertainty.
"It's a signal on both sides that there needs to be a lot to be discussed, maybe behind closed doors. China is open for discussion. The U.S. is potentially open to being back to rational dialogue," said Dr. K-Yu Jin, global economist and author of "The New China Playbook," in an interview with ABC News Australia.
China's Commerce Ministry has issued a strong statement urging the US to "take a big step to correct its mistakes, completely cancel the wrong practice of reciprocal tariffs and return to the right path of mutual respect." This language indicates Beijing's growing frustration with what it considers inconsistent US trade policies.
"There are lots of unexpected consequences. You block China on certain things, guess what they're going to do? They're going to try to do it better, and they're going to try to win," warns Dr. Jin in her ABC News Australia interview, highlighting the counterproductive nature of current US strategy.
Market analysts predict increased volatility as companies struggle to develop contingency plans amid unpredictable policy shifts. Dr. Jin points to a concerning trend where Washington's aggressive stance may accelerate global de-dollarization efforts. "A few years ago, it was about de-risking from China. Now, countries are thinking, we don't want to be at the mercy of any one country," she explained to ABC News Australia.
"It's an age of volatility and uncertainty, as if the geopolitical uncertainty levels are not high enough, throw into policy and uncertainty, inconsistency of U.S. policy," Dr. Jin stated to ABC News Australia, emphasizing the compound effects of trade tensions on global markets.
Got a News Tip?
Contact our editor via Proton Mail encrypted, X Direct Message, LinkedIn, or email. You can securely message him on Signal by using his username, Miko Santos.
More on Mencari
5 - Minute recap - for nighly bite-sized news around Australia and the world.
Podwires Daily - for providing news about audio trends and podcasts.
There’s a Glitch - updated tech news and scam and fraud trends
The Expert Interview - features expert interviews on current political and social issues in Australia and worldwide.
Viewpoint 360 - An analysis view based on evidence, produced in collaboration with 360Info
Mencari Banking - Get the latest banking news and financials across Australia and New Zealand
The Mencari readers receive journalism free of financial and political influence.
We set our own news agenda, which is always based on facts rather than billionaire ownership or political pressure.
Despite the financial challenges that our industry faces, we have decided to keep our reporting open to the public because we believe that everyone has the right to know the truth about the events that shape their world.
Thanks to the support of our readers, we can continue to provide free reporting. If you can, please choose to support Mencari.
It only takes a minute to help us investigate fearlessly and expose lies and wrongdoing to hold power accountable. Thanks!