China is widely expected to retaliate against the latest US tariffs on its exports. While this could trigger a full-scale trade war and possibly a broader geopolitical conflict, India and other countries stand to expand their foothold in Western markets as Chinese manufacturers weaken.
WASHINGTON, DC – US President Joe Biden and his predecessor Donald Trump, the presumptive Republican nominee in November’s presidential election, are competing to portray themselves as tough on trade and China. Biden has already imposed a 100% tariff on Chinese-made electric vehicles, and Trump has vowed to impose a 200% tariff on Chinese cars manufactured in Mexico, along with a range of other protectionist measures affecting steel, solar panels, semiconductors, and batteries. The European Union is likely to follow suit, albeit more cautiously.
WASHINGTON, DC – US President Joe Biden and his predecessor Donald Trump, the presumptive Republican nominee in November’s presidential election, are competing to portray themselves as tough on trade and China. Biden has already imposed a 100% tariff on Chinese-made electric vehicles, and Trump has vowed to impose a 200% tariff on Chinese cars manufactured in Mexico, along with a range of other protectionist measures affecting steel, solar panels, semiconductors, and batteries. The European Union is likely to follow suit, albeit more cautiously.