2025-02-28 10:30:10
Business
China
Economy

Global Trade Tensions Escalate Amid New US Tariffs

Image courtesy of : AFP (BRANDON BELL)

The recent trade tensions sparked by US President Donald Trump's tariff announcements have drawn sharp responses from major global players. Trump's decision to levy a 25% tariff on European goods, including cars, has prompted a strong reaction from the EU. Key EU nations, Spain and France, have called for a robust counter-response, emphasizing the need to protect European economic interests. Spanish Prime Minister Pedro Sánchez criticized the tariffs as unjustified, while French Economic Minister Eric Lombard highlighted the need to defend EU interests, even if it means retaliatory measures.

The EU Commission has rejected Trump's claims that the EU was established to exploit the United States, instead pointing to the mutual benefits of transatlantic trade. With a trade volume of approximately 1.5 trillion euros, the EU emphasizes the profitability it provides to US investments in Europe.

Meanwhile, in Asia, China has also promised countermeasures in response to the US's proposed 10% tariffs on Chinese goods. The US has linked these tariffs to issues such as fentanyl smuggling, accusations that China refutes, citing its strict drug policies. China has warned that US unilateral tariffs violate World Trade Organization rules and threaten the global trading system.

The mounting trade conflicts are unsettling international relations. As the US takes a firmer stance, the EU and China are urged to find strategies to protect their own economies. The situation brings into question the sustainability of current global trade alliances and highlights the shifting dynamics in international relations, with countries exploring ways to mitigate dependencies and maintain economic sovereignty.

AFP
27. Februar 2025 um 13:15

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28. Februar 2025 um 08:20

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The EU Commission rejects Trump's allegations that the EU was founded to economically disadvantage the USA. It emphasizes that the EU has been a gain for the USA and that American companies have been able to generate significant profits. Trump announced punitive tariffs on car imports and other European goods due to the EU's trade surplus in goods trade with the USA.
DER SPIEGEL
28. Februar 2025 um 07:10

China Threatens Countermeasures in Response to Donald Trump's Tariff Announcement - DER SPIEGEL

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China threatens countermeasures in response to tariff increase by Trump; USA accuse China of exporting drugs via Mexico and Canada; China rejects allegations and calls on USA to solve its own problems.
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