While many of these new US tariff rates are reciprocal — the United States is raising export barriers for countries that slap a high tariff on US imports into their own territories — many of them are political, with US President Donald Trump using tariffs to settle scores where his political intervention has not made much headway.
Tag: Trade War
Trump tariff war: Singapore downgrades 2025 GDP growth forecast to 0-2%, as global trade falters
The April 14 announcement of downgrading by MTI comes exactly two months after a February 14 media release stating that the ministry was maintaining the Singapore “GDP growth forecast for 2025 at 1.0 to 3.0 per cent”. That media release had said that the Singapore economy had expanded by 4.4 per cent in 2024.
Trump hands China 125 percent tariff, partial respite for India and 74 other countries
Trump made these announcement on social media, stating that the decision to raise tariffs on China was due to the lack of respect China has shown to the world’s markets. He mentioned that China’s actions of “ripping off” the US and other countries will no longer be accepted.
China responds to US tariffs with new trade measures and Google probe
China is the world’s largest importer of liquefied natural gas, with its top suppliers being Australia, Qatar and Malaysia. The US, which is the biggest exporter of LNG globally, does not significantly export LNG to China.
