Background and Causes
The recent developments in the trade conflict between the USA and China have led to a significant increase in US tariffs on Chinese goods. These tariffs now amount to up to 145 percent. The increase from 125 to 145 percent is not the result of a new decision, but rather an adjustment of the calculation. Previous figures had already excluded tariffs of 20 percent that were imposed due to China’s role in the manufacturing of fentanyl.
President Donald Trump’s measures are part of a broader strategy to put pressure on China. This is seen as an attempt to put China in a difficult position.
Impact on International Trade
The increased tariffs further intensify the existing trade conflict between the USA and China. This could have long-term negative effects on both economies. The rise in tariffs has already led to turbulence in the global markets, with worldwide declines in stock market prices. However, Trump announced a temporary suspension of new tariffs for many countries.
Impact on Germany and the Eurozone
Although Germany and the Eurozone are not directly affected as severely as China, indirect effects could arise due to global market uncertainty. The EU has decided to suspend countermeasures against US tariffs for 90 days to avoid further escalation.
Negotiation Approaches
Additionally, there are efforts for negotiations concerning new agreements. Vietnam plans a trade agreement with the USA, and talks are ongoing between the EU and China regarding electric vehicle tariffs. These initiatives could indicate that despite ongoing tensions, solutions are being sought. Overall, these developments reflect the complex fabric of international trade policy in tense times.