U.S. Treasury Secretary Scott Bescent said on Tuesday that President Donald Trump created “strategic uncertainty” in trade negotiations, per Reuters.
Key takeaways
“The aperture of uncertainty is narrow.”
“We want long -term tariff income and deal.”,
“Talk to at least 17 partners in the next few weeks.”
“It's a good opportunity we can see the tax income accuracy in the tax bill.”
“Tariff income can be used for tax relief.”
“Over time, it can be seen that Chinese tariffs are not sustainable for China.”
“Don't expect shock chain chains.”
“Asian trading partners are most arrival.”
“Some announcements can be seen in India.”
“South Korea deals can be seen together.”
“There was a big conversation in Japan.”
“Isn't the auto tariff detailed relief.”
“Auto relief is going to re-shoring manufacturing.”
“You want to see the Internet tax on the EU being deleted.”
Market reaction
These comments do not seem to have a remarkable impact on US dollar (USD) performance. At the time of press, the USD index reached 0.15% in the day at 99.08.
US-China Trade War Faqs
In general, a trade war is an economic conflict between two or more countries due to intense protectionism at one end. This indicates the creation of trade barriers, such as tariffs, resulting in counter-barriers, increasing import costs, and therefore the cost of living.
An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers in China, claiming unfair commercial skills and theft of intellectual ownership from the Asian giant. China has taken revenge action, which imposes tariffs on many US goods, such as vehicles and soybeans. The tension increased until the two countries signed the US-China Phase One Trade Deal in January 2020. The agreement required structural reforms and other changes to the Chinese economic and trade regime and pretended to restore stability and trust between the two countries. However, the coronavirus pandemic took the focus on chaos. However, it is worth mentioning that President Joe Biden, who was in office after Trump, kept the tariffs in the area and added some additional levies.
Donald Trump's return to the White House while the 47th US president caused a fresh wave of tension between the two countries. During the 2024 election campaign, Trump promised to impose 60% tariffs in China once he returned to the office, which he made on January 20, 2025. By Trump back, the US-China trade war was intended to continue where it was left, with title policies of title affecting the global economic landscape among the interruptions Global supply chain, resulting in a reduction in spending, specific investment, and direct feeding to consumer index prices.
