Affluence Advisory
Quick Summary
Since 2018, an economic rift has persisted between China and the United States (US), spurred by a revision in the foreign economic stance under President Donald Trumps administration. The US shifted towards a protectionist approach with its primary trading partner, China. As per the International Tr
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FAQ :
The economic rift between China and the US began in 2018, under President Donald Trump's administration, which adopted a protectionist approach towards China.
The US imposed tariffs due to concerns over China's currency manipulation, coerced technology transfer, safeguarding intellectual property rights, and addressing a significant trade deficit.
The latest tariffs target approximately $18 billion worth of imports, including steel, aluminium, computer chips, solar cells, cranes, medical products, electric vehicles (EVs), and EV batteries.
The tariff rate on Chinese-manufactured electric vehicles (EVs) has been quadrupled to over 100%, bringing the total duties to 102.5%.
China has swiftly pledged retaliation against the US tariff hikes, affirming its opposition and readiness to defend its interests.
Yes, more tariffs are anticipated in 2025 and 2026, targeting semiconductors, lithium-ion batteries (excluding those used in EVs), graphite, permanent magnets, and rubber medical and surgical gloves.
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