Overview
- The U.S. administration has enacted a 90-day pause on most reciprocal tariffs, maintaining a 10% minimum rate for all countries except China.
- Chinese imports face a punitive 145% tariff in the U.S., with some products, such as medical supplies, taxed as high as 245%.
- China has retaliated with a 125% surtax on U.S. goods, intensifying bilateral trade tensions.
- Economist Eric Monnet has drawn parallels between the current trade environment and the 1930s, warning of significant financial crisis risks.
- Frequent policy reversals and ad-hoc tariff adjustments by the U.S. have contributed to global market instability and supply chain disruptions.