Washington – Saba:
The Trump administration on Wednesday threatened to impose a 245% tariff on Chinese goods in response to Beijing's retaliatory measures, which include not only raising tariffs but also suspending metal exports.
The White House also announced that over 75 countries have already reached out to the administration to discuss new trade agreements.
Meanwhile, President Trump signed orders to raise tariffs on steel and aluminum to 25%, and directed an investigation into the national security risks posed by reliance on imported metals.
Depending on the outcome, the administration may impose additional tariffs if it determines that metal imports threaten U.S. national security.
White House Press Secretary Karoline Leavitt stated yesterday that the administration is reviewing trade agreements submitted by over 15 countries, with announcements on some deals expected soon. This follows remarks by Vice President J.D. Vance suggesting the UK is likely to secure a favorable trade agreement due to President Trump’s favorable sentiment toward the country.
Last week, President Trump announced a 90-day suspension of global tariffs, prompting a surge in global stock markets.
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