China Vows Retaliation as Trump Threatens 25% Tariffs on Countries Trading with Iran.
The US has slapped a fresh salvo of tariffs on countries trading with Iran in an effort to punish the Islamic Republic for its brutal crackdown on anti-regime protests. China, which is by far Iran's largest trading partner, vowed to retaliate against Washington as President Donald Trump announced plans to ramp up global trade tensions.
Under the new measure, any country doing business with Iran would be subject to a 25% tariff on all goods imported from the US. The move has raised concerns about the potential for a new trade war between China and the US. Beijing threatened to take "all necessary measures" to safeguard its interests following Trump's announcement.
The 25% tariff is expected to disproportionately affect small countries that have little to no trade with Iran, many of which rely on humanitarian aid such as medicines to survive. The move has also raised eyebrows among countries like India and the United Arab Emirates, which are already struggling with crippling US sanctions.
China, which ended a tariff war with Trump earlier this year, is bracing for potential retaliation against its own tariffs imposed by Washington. With China facing a 45% tariff on most goods, Beijing is likely to take swift action to protect its interests.
The move has sparked concerns about the global economy as trade tensions continue to escalate. The US national security team is set to meet at the White House to discuss options for Iran, including military strikes and targeted assassinations.
As protests in Iran continue unabated, Trump's handling of the crisis remains under intense scrutiny. The US president has faced criticism for his response to the crisis, with some arguing that his actions are only exacerbating the problem.
The US supreme court is also set to hear a challenge to Trump's global trade tariffs later this week. If the court rules against him, it could spell disaster for Trump's economic strategy and undermine his authority on trade policy.
Overall, the escalating tensions between China and the US over Iran highlight the growing risks of a new trade war and its potential consequences for the global economy.
The US has slapped a fresh salvo of tariffs on countries trading with Iran in an effort to punish the Islamic Republic for its brutal crackdown on anti-regime protests. China, which is by far Iran's largest trading partner, vowed to retaliate against Washington as President Donald Trump announced plans to ramp up global trade tensions.
Under the new measure, any country doing business with Iran would be subject to a 25% tariff on all goods imported from the US. The move has raised concerns about the potential for a new trade war between China and the US. Beijing threatened to take "all necessary measures" to safeguard its interests following Trump's announcement.
The 25% tariff is expected to disproportionately affect small countries that have little to no trade with Iran, many of which rely on humanitarian aid such as medicines to survive. The move has also raised eyebrows among countries like India and the United Arab Emirates, which are already struggling with crippling US sanctions.
China, which ended a tariff war with Trump earlier this year, is bracing for potential retaliation against its own tariffs imposed by Washington. With China facing a 45% tariff on most goods, Beijing is likely to take swift action to protect its interests.
The move has sparked concerns about the global economy as trade tensions continue to escalate. The US national security team is set to meet at the White House to discuss options for Iran, including military strikes and targeted assassinations.
As protests in Iran continue unabated, Trump's handling of the crisis remains under intense scrutiny. The US president has faced criticism for his response to the crisis, with some arguing that his actions are only exacerbating the problem.
The US supreme court is also set to hear a challenge to Trump's global trade tariffs later this week. If the court rules against him, it could spell disaster for Trump's economic strategy and undermine his authority on trade policy.
Overall, the escalating tensions between China and the US over Iran highlight the growing risks of a new trade war and its potential consequences for the global economy.