USA

U.S. trade with China has grown enormously in recent decades and is crucial for both countries. Today, China is one of the largest export markets for U.S. goods and services (second to Mexico), and the United States is the top export market for China. This trade—much of which grew after China joined the World Trade Organization (WTO) in 2001—has brought lower prices to U.S. consumers and higher profits for U.S. corporations. But it also comes with costs, notably the loss of American jobs due to import competition, automation, and multinational companies moving manufacturing overseas. After President Donald Trump began a so-called trade war with China in 2018, economic tensions between Washington and Beijing have been on the rise. Chinese officials have warned that there are “no winners...

The trade imbalance in goods between China and the United States is both an inevitable outcome of structural issues within the US economy and a consequence of comparative advantages and international division of labour between the two countries—not a result of China’s deliberate pursuit of a trade surplus, a Chinese white paper outlining its position on US tariffs stated on Wednesday. As US imposed a cumulative 145 per cent tariffs on Chinese goods due to high trade deficit and unfair practices, China argued that the benefits derived from economic and trade relations between the two countries are “generally balanced”, and that a comprehensive and nuanced assessment is required to determine whether China–US bilateral trade is indeed balanced, as it cannot be judged solely on the basis o...

As the United States moves ahead with 100% tariffs on Chinese imports, worries about a global economic slowdown are deepening. But even as the world braces for the fallout, economist Akash Jindal believes India may have reasons to stay optimistic. “This tariff war is going to hurt both the US and China, and the ripple effect could drag many economies down with them,” Jindal said, warning of a possible recession if the measures aren’t rolled back.China's pain is India's gainThe global tension stems from China’s heavy dependence on exports. Already battling issues like deflation, rising debt, and a stressed financial sector, the Chinese economy could face an even sharper decline under the weight of these new tariffs. “China is in a vulnerable spot,” said Jindal. “And with investors pu...

The US-China tariff war has peaked. President Donald Trump on Tuesday imposed another 50% duty on Chinese imports after Beijing announced a 34% tariff on American goods. What was initially a 34% proposal from Trump has now reached an astounding 104%.China's State Council Information Office on Wednesday, April 9, released a white paper titled “China's Position on Some Issues Concerning China-US Economic and Trade Relations.”The Chinese government issued the document to clarify its position on China-US economic and commercial relations and other important issues. Here are some key points to note from the Chinese white paper. Normal for China and the US to have differences and frictions: China and the US have different economic systems and stages of development, which might lead to dif...

As the shake-up of the world trade by US President Donald Trump has brought back tariffs at the centre stage again, “many developed countries” have indicated to India that they are willing to relax their stands on non-trade issues like sustainability in the free trade agreement (FTA) negotiations for early deals, according to an official. The positive signals from these trading partners would help India to diversify its merchandise trade basket, and minimise negative effects of the additional US tariffs on its exports. Currently, the US accounts for 18% of India’s goods exports. It is important for India to gain from the supply chain reorganisation that the US’s highly disruptive act might cause, and more FTAs with other major trading partners like the European Union and the UK have no...

Economic issues continue to dominate Americans’ national concerns, with majorities expressing “a great deal” of personal worry about the economy, healthcare availability and affordability, inflation and the federal budget deficit. Along with the economy and healthcare, public concern about Social Security and the environment is up significantly, with Social Security registering a 15-year high. At the same time, concern about crime, drug use, immigration, and the availability and affordability of energy has decreased when the last measure of President Joe Biden’s term in 2024 is compared with the first measure of President Donald Trump’s second term this year. After the change in presidential administrations, partisans’ worries have shifted significantly on most of the 16 issues Gall...

The stock market not only can't find its footing in 2025, but it's also in danger of losing its grip altogether. The benchmark S&P 500 is in the red for 2025, talk of a private sector recession runs rampant and a chaotic geopolitical snapshot shows angst over the Russia-Ukraine war. Additionally, President Donald Trump on April 2 announced high "reciprocal" tariffs on scores of major U.S. trading partners, along with a 10% across-the-board tariff on all other nations. Mexico and Canada were exempt from these new levies, but the two countries have already been hit with tariffs on goods that don't comply with the U.S.-Mexico-Canada trade agreement Trump negotiated in his first term, in addition to tariffs on steel and aluminum. Meanwhile, bellwether semiconductor stocks are slidin...

On March 4, 2025, U.S. President Donald Trump instituted major tariffs affecting imports from Canada, Mexico and China. Such actions earlier ignited global trade tensions, prompting swift reactions from the affected nations and raising questions about their potential economic impact. The reason for these tariffs is officially to pressure these nations to enhance efforts against unfair trade practices and drug trafficking, particularly fentanyl, into the United States. Any positive impact on the U.S. economy is questionable but negative impacts seem certain. Under the decisions, the U.S. government imposed a 25% tariff on all imports from Canada and Mexico. Canadian energy products are subject to a 10% tariff. The tariff on Chinese goods has been increased from 10% to 20%. Officially, t...

A key economic adviser to President Donald Trump on Monday pushed back on talk of recession stemming from uncertainty around his administration's tariff policies, even as a survey of American households showed consumers growing more pessimistic about their prospects, and U.S. stocks plunged.In an interview with CNBC, Kevin Hassett, who heads the National Economic Council, said there were many reasons to be optimistic about the U.S. economy, despite some predictions of a contraction in gross domestic product in the first quarter and concerns about inflation.Trump's tariffs on Canada, China and Mexico were already having the intended effect of bringing manufacturing and jobs back to the United States, he said."There are a lot of reasons to be extremely bullish about the economy going forwar...