Trump’s Trade War: Tariffs, Uncertainty, and Global Economic Impact

World 10:12 09.04.2025

USA President Donald Trump is ripping up the rulebook on trade that has been in place for more than 50 years.
His latest round of sweeping tariffs, which came into force shortly after midnight on Wednesday, hits goods from some of America's biggest trading partners including China and the European Union with dramatic hikes in import duties.
The president and his allies say the measures are necessary to restore America's manufacturing base, which they view as essential to national security.

But it remains a potentially seismic action, affecting more than $2tn worth of imports, which will push the overall effective tariff rate in the US to the highest level in more than a century.
In the US, key consumer goods could see huge price rises, including an estimated 33% for clothing, and analysts are warning of near-certain global economic damage as sales in America drop, trade shrinks and production abroad falls.
With the stock market reeling and political pressure in the US starting to build, the White House has worked to soothe nerves by floating the possibility of trade talks, touting conversations that have already begun with Japan, Vietnam and South Korea.But Trump has signalled resistance to the kinds of exemptions he granted during his first term, and even if these talks are ultimately productive, country-by-country deal-making will no doubt take time.

No one has an answer to that because it's going to depend on the approach and the disposition of the negotiating parties.The US already appears set on a collision course with China, which was its third biggest supplier of imports last year.The White House said on Tuesday that it was moving ahead with Trump's social media threat to add a further 50% levy on imports from China, on top of the 54% duties that had already been announced, unless Beijing agreed to withdraw its retaliation.

Liu Pengyu, a spokesman for the Chinese embassy in Washington, declined to say if the two sides had spoken directly since the threat.But publicly, China has shown little willingness to back down, describing Trump's moves as "bullying" and warning that "intimidation, threat and blackmail are not the right way to engage with China".
"If the US decides not to care about the interests of the US itself, China and the rest of the world, and is determined to fight a tariff and trade war, China's response will continue to the end," he said in a statement.The rapid change has shaken US businesses with decades of ties to China, which now find themselves paralysed and unsure how this escalating trade fight might end.

"You would laugh if you weren't crying," said US businessman Jay Foreman, whose toy company Basic Fun! is known for classics such as Tonka Trucks and Care Bears, the vast majority of which are made in China.He put out notice to his suppliers to halt any shipments to the US earlier this week, as the US announced it would hit goods from China with duties starting at 104%.

Speaking to Congress on Tuesday, Jamieson Greer, who leads the office of the US Trade Representative, declined to set a timeline for how quickly talks might progress.Stock markets from Japan to Germany have also been shaken, as investors assess the wider repercussions of the actions. In the UK, the FTSE 100 has dropped about 10%.

Erin Williamson, vice-president of US customs brokerage at GEODIS, a global supply chain operator, said on Tuesday afternoon, said that the uncertainty had prompted some of her firm's clients to simply put shipments on pause.
"One of the top ways that you can confirm that you're not putting your business at risk is really holding off until maybe the dust settles," she said.

The uncertainty is raising the risks to the economy, said Ernie Tedeschi, director of economics of the Budget Lab at Yale, which is not predicting a recession in the US, but still expects tariffs announced so far this year will cost the US 600,000 jobs and lead to a roughly $3,800 hit to purchasing power for the average household.
Mr Tedeschi said he saw no clear end to the trade war in sight.

"Even if the administration wanted to step back, how does it save face in a way that is mutually acceptable to all the relevant players?" he said. "That's becoming harder by the day."

Madina Mammadova\\EDnews

IEPF issued a statement regarding Azerbaijani children at the UN Human Rights Council

News line

US citizens in Qatar advised to stay home until further notice
17:06 23.06.2025
NATO summit to announce 40B euros in support for Ukraine
17:03 23.06.2025
Three tankers divert from Strait of Hormuz amid closure fears
16:59 23.06.2025
Erdogan: Türkiye working actively to prevent attacks on Iran from escalating into catastrophe
16:37 23.06.2025
Putin: Russia is making efforts to help Iran
14:52 23.06.2025
Azerbaijan-Uzbekistan Investment Company Finances Projects Worth $360 Million
15:50 21.06.2025
Special closed OIC Foreign Ministers meeting to be held in Istanbul at Iran's request
15:45 21.06.2025
Over 740 Chinese citizens evacuated from Iran to Azerbaijan
15:37 21.06.2025
Mirzoyan, Kallas discuss Armenia-Azerbaijan normalization
15:30 21.06.2025
Turkish President Erdogan says region won't withstand new war
15:27 21.06.2025
Turkish FM Fidan Urges Global Action to End Sudan Conflict, Calls for Support to Syria and Turkish Cypriots
15:15 21.06.2025
Israel Strikes Military Facility in Shiraz: Details of the Operation
15:02 21.06.2025
Massive Israeli Air Strikes Hit Missile Sites in Iran's Tabriz and Kermanshah
15:39 20.06.2025
Pashinyan arrives in Türkiye on working visit
14:56 20.06.2025
Erdogan, Merz mull Israel-Iran conflict in phone call
14:07 20.06.2025
Mher Grigoryan: Azerbaijan, Armenia continue to work within border delimitation
13:03 20.06.2025
Araghchi: UN Security Council Must Respond to Israeli Attack on Khondab Nuclear Facility
11:00 20.06.2025
Belarus Contributing to Development of Azerbaijan's Industry, Says Ambassador
10:59 20.06.2025
Netherlands Embassy in Tel Aviv Damaged During Iran's Missile Strike
13:05 19.06.2025
Azerbaijan and BP Discuss Decarbonization and Energy Projects Amid Strengthening Strategic Partnership
13:00 19.06.2025
Delegates of 65th PABSEC General Assembly Begin Official Visit to Karabakh
11:54 19.06.2025
UK, German, and French Foreign Ministers to Hold High-Level Talks with Iran on June 20 in Geneva
11:44 19.06.2025
Ambassador: Azerbaijan Ready to Cooperate with Mexico in Energy Transition
11:10 19.06.2025
Azerbaijan Showcases Literary Heritage at Beijing International Book Fair
17:00 18.06.2025
Minsk Hosts Public Discussion on Return to Western Azerbaijan
16:55 18.06.2025
German Foreign Minister Urges Iran to Make Concessions, Supports Israel’s Concerns
16:41 18.06.2025
Explosions Rock Eastern Tehran Amid Escalating Israel-Iran Tensions
15:38 18.06.2025
Türkiye’s Strategic Role in the Turkic World Genci Muçaj
15:10 18.06.2025
Khamenei: Iran Will Emerge Victorious in Conflict With Israel
13:51 18.06.2025
Mobilization Against Peace: Armenia's Return to a Radical Past
17:01 17.06.2025
Israel prepares more complex operation against Iran
13:50 17.06.2025
Armenia and India discuss evacuation of Indian students from Iran
12:01 17.06.2025
Navies of Azerbaijan, Kazakhstan start joint exercises
11:58 17.06.2025
Azerbaijan Mine Action Agency: 1,258 hectares cleared of mines last week
11:53 17.06.2025
More than 600 citizens of 17 countries evacuated from Iran via Azerbaijan
11:44 17.06.2025
IEA: Azerbaijan falls short of OPEC+ quota by 0.08 million b/d in May
11:41 17.06.2025
Iran attacks military sites in Tel Aviv, Haifa with 'new weapon' and drones
11:37 17.06.2025
Foreign diplomats briefed on addressing IDP issues in Azerbaijan
11:33 17.06.2025
Israeli-linked hackers claim to have hacked Iran's Bank Sepah
11:29 17.06.2025
Turkic states' investment promotion platform launched
10:53 17.06.2025
Hamısı