Breaking News: China-US Trade War Escalation Made Headlines
On Tuesday, April 8th, the United States escalated tariffs on Chinese imports, announcing an additional 50% tariff starting from the next day, April 9th, bringing the total tariff to 104%. This move was in response to Beijing not backing down from its retaliatory 34% tariffs on the US.
Last week, President Trump announced equal tariffs on global trade partners, including a 34% increase on Chinese imports. In retaliation, China vowed to reciprocate with a 34% tariff on American goods, pledging to “see it through to the end.”
Trump criticized Beijing’s retaliatory tariffs as a miscalculation, stating that it was something the Chinese regime could not afford.
The US Treasury Secretary emphasized that China was at a disadvantage in this trade war escalation.
In 2024, the US trade deficit with China was nearly $300 billion. The United States Trade Representative, Jamieson Greer, stated this week during a trade hearing in the Senate that Beijing has not shown a willingness to engage in fair trade with the US, highlighting a clear difference compared to other nations.
Since the US implemented equal tariffs, nearly 70 countries have approached the White House to initiate trade negotiations.
Greer noted that Trump would not grant tariff exemptions to any country in the near future. Any future trade deals would need to have strict rules to prevent China from using a third country as a conduit for its exports to the US.
Chinese state mouthpiece “People’s Daily” has published articles criticizing the US’s “abuse of equal tariffs” and unilateral policies, claiming that “the sky will not fall.” However, unlike the official stance, the Chinese business community has expressed pessimism and grievances.
In sectors like the clothing industry, the impact of equal tariffs has led to reduced orders and dwindling profits, with some textile factories even shutting down. The foreign trade market for clothing has stagnated, causing more companies to shift towards the domestic market. This shift exacerbates overcapacity in the industry, leading to financial struggles for many.
E-commerce has also suffered a severe blow from the tariff impact. According to reports, a Chinese e-commerce entrepreneur from Jiangsu mentioned that the high tariffs imposed by the US would result in the closure of many e-commerce businesses, criticizing the Chinese regime for isolating the country on the global stage.
Scholars from Taiwan have highlighted that the essence of China’s autocratic rule coupled with President Xi Jinping’s centralized power will choke freedom of speech and hinder innovation, possibly leading to a sudden economic collapse in China.
These recent actions by the Chinese regime to stifle economic dissent indicate its vulnerability. With experts and scholars being muzzled, China’s path of confrontation with the US may accelerate its downfall, showing signs of desperation.
Moving on to a lighter yet intriguing topic, there have been reports suggesting the presence of humanoid life on Mars. A former CIA agent disclosed witnessing ancient civilizations on Mars through remote viewing, including giant pyramids and tall beings seeking shelter from storms.
This revelation, backed by declassified CIA documents from 1984, depicted extraordinary scenes witnessed through remote viewing, showcasing massive structures resembling pyramids with inhabitants seeking refuge.
The disclosure by the former CIA agent has sparked curiosity and debate regarding potential extraterrestrial life on Mars, especially as visionary billionaire Elon Musk plans manned missions to the Red Planet through SpaceX.
As Musk aims to transport humans to Mars using advanced space technologies, the possibility of uncovering secrets about Mars and its potential inhabitants continues to captivate the imagination of many.