Washington - Saba:
The administration of US President Donald Trump threatened to impose tariffs of up to 245% on Chinese goods in response to what it described as China's retaliatory measures, including raising tariffs and suspending metal exports.
In a parallel move, Trump signed orders raising tariffs on steel and aluminum to 25% and ordered an investigation into the impact of metal imports on US national security.
The White House also reported that more than 75 countries have contacted the administration to discuss new trade agreements, with some imminent announcements. Vice President J.D. Vance noted that the UK is a candidate for a special trade agreement due to President Trump's close ties with the UK. The administration had previously announced a 90-day suspension of global tariffs, contributing to financial market recovery.
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