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Trump's Universal Tariffs Take Effect, Triggering Global Trade Turmoil

The U.S. implements sweeping 10% import tariffs as China retaliates with 34% duties and export restrictions, escalating fears of a global trade war.

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Rainer Zitelmann liebt den Kapitalismus. Und es gibt aus seiner Sicht nicht den geringsten Grund, sich dafür zu schämen.

Overview

  • The U.S. has enacted universal 10% import tariffs, with higher rates for nations with significant trade deficits set to begin on April 9.
  • China has responded with 34% tariffs on U.S. goods and restrictions on rare earth exports, intensifying trade tensions.
  • The European Union has criticized the tariffs as unjustified and is preparing countermeasures while remaining open to negotiations.
  • Global financial markets have reacted sharply, with major indices like the S&P 500 and DAX experiencing significant declines.
  • Federal Reserve Chair Jerome Powell warns of higher inflation and slower U.S. economic growth, while domestic critics, including Senator Ted Cruz, express concerns about potential political fallout.