President Donald Trump has announced a blanket 25% tariff on steel and aluminum exports to the US, affecting major steel exporting countries like Canada, Mexico, and Brazil, as well as Asian countries such as South Korea, Vietnam, Australia, and Japan. Australia has already stated its intention to negotiate an exemption. The US has also targeted China, Canada, and Mexico with earlier tariffs, prompting China to retaliate with tariffs on various goods.
Countries affected by the tariffs will need to find ways to stand up to the US and present their case against the tariffs directly to Trump. China has also taken other measures, such as restricting access to critical minerals and sanctioning US companies. Trump is set to speak with Chinese President Xi Jinping, with the possibility of seeking China’s help to pressure Russia to end the war in Ukraine.
Amidst the escalating trade war, China aims to present itself as a stable and reliable trading partner to developing countries in the “Global South.” If the US continues with protectionist policies, China may be poised to step in and fill the void left by the US. This latest move by Trump has further heightened tensions in the global trade landscape, with uncertainty surrounding the potential outcomes of negotiations and future developments.
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