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Economic Times
22 minutes ago
- Economic Times
Trump's silent economic war on China: How he's cornering Xi Jinping one nation at a time
Donald Trump is reportedly broadening his trade war with China by imposing tariffs on Asian nations like Japan and South Korea. Simultaneously, deals are being pursued with countries including Indonesia and Thailand. This strategy aims to isolate China by restricting access to crucial Asian markets that bolster its export-driven economy. Tired of too many ads? Remove Ads Donald Trump Targeting Asia to Corner Beijing Setting the Tone with Vietnam and the UK Tired of too many ads? Remove Ads Donald Trump Cracking Down on Transshipments More Asian Countries on Trump's Notice China's Growth Model Hinges on Exports Tired of too many ads? Remove Ads FAQs US president Donald Trump is quietly expanding his trade war with China by targeting the entire Asian region through a series of new tariff deals, as per a though the US reached a recent pact with Beijing, Trump is imposing fresh tariffs on countries like Japan and South Korea while pushing for agreements with Indonesia, Thailand, Cambodia, and others, according to The Telegraph successful, this strategy would trap Xi Jinping's China by cutting off key Asian markets that support Beijing's export-driven economy , as per the report. Economist at Capital Economics, Neil Shearing, pointed out that 'What we are witnessing is no passing trade war,' and added that, 'Rather, it is the manifestation of a deeper, more durable superpower rivalry between the world's two largest economies,' as quoted in The Telegraph READ: Billionaires ditch Nvidia for this AI stock that's soared 2,000% since 2023 Trump's earlier deals with the UK and Vietnam set the tone for his plan to weaken Beijing's trading power, according to the report. The UK agreement allows the White House to 'veto' Chinese investment in Britain, while the Vietnam deal cracks down on China's tactic of sending goods through Vietnam to avoid US tariffs, as per The Telegraph instance, Trump imposed a 40% tariff on 'transshipments', goods imported into Vietnam mostly from China, then exported to the US, which is double the 20% tariff on Vietnamese-made products. This sends a clear message to Hanoi that Vietnam is welcome to export to the US if it can cope with a 20% levy, Trump will come down on the country like a tonne of bricks if it replaces 'Made in Vietnam' stickers with 'Made in China,' as reported by The READ: Craving McDonald's snack wraps? They are back — with bold new flavors you need to try Trump is now threatening steep tariffs on Malaysia, Indonesia, Thailand, and Cambodia if they don't make trade deals soon, with levies as high as 36% on some countries, as these measures are expected to further squeeze China's export reach, according to the was Trump's early candidate for this strategy because, since Trump first came to power in 2017, China's machinery and electrical goods shipments to Vietnam have increased from just 17% of its total exports to nearly half, as reported by The Telegraph. After Trump returned to the White House this year, Vietnam's imports of these goods from China rose by nearly a quarter, as per the READ: Linda Yaccarino resigns: What drove the X CEO to step down and what's her net worth? Xi's strategy is to keep China's economy increasing by at least 5% a year due to the exports to Asia, reported The Telegraph. Beijing increases its GDP by pumping subsidies and investments into manufacturing, as Chinese households simply don't spend enough to allow consumption to power the economy, as reported by The Telegraph.A senior research fellow at the think tank Chatham House, David Lubin explained that, 'Whenever Chinese domestic spending growth sags, export growth accelerates,' adding, 'And that's simply because Chinese companies can't sell stuff domestically, so they sell it abroad,' as quoted in the economic model has led to overcapacity and oversupply, which has forced businesses into damaging price wars, and if these companies are not able to export their surplus to Asia, supply gluts appear inevitable, as reported by The READ: New Mexico flooding: Emergency declared - track maps, road closures and all the details He's trying to block China from using Asian markets to fuel its export-heavy penalizing Vietnam with 40% tariffs if it helps China dodge US tariffs by re-exporting Chinese goods.
News18
an hour ago
- News18
Israle-Gaza Ceasefire Talks Reportedly Break Down After Second Trump-Netanyahu Meeting
Despite a high-stakes second meeting between Donald Trump and Israeli Prime Minister Benjamin Netanyahu in Washington, hopes for a Gaza ceasefire have reportedly hit a wall, according to senior diplomatic sources. Mobile App -
News18
an hour ago
- News18
Trump Announces 50% Tariff On Brazil Citing Bolsonaro Trial And Trade Disputes
Donald Trump announced a 50% tariff on Brazilian imports, citing unfair trade practices and prosecution of Jair Bolsonaro. US President Donald Trump announced a steep 50% tariff on imports from Brazil, dramatically escalating trade tensions with South America's largest economy. The move, Donald Trump said, is in part retaliation for what he described as the 'unjust" prosecution of former Brazilian President Jair Bolsonaro as well as what he called a 'very unfair trade relationship" between the two nations. The new tariff represents a fivefold increase from the 10% rate the US imposed on Brazilian imports in April. In addition to the tariffs, Donald Trump confirmed the launch of a federal investigation into what he called 'unfair trade practices" by Brazil. In a letter addressed to Brazilian President Luiz Inácio Lula da Silva, Donald Trump accused the country of 'continued attacks on the Digital Trade activities of American companies," a reference to recent regulatory actions and digital taxation proposals being considered in Brazil. 'The relationship is far from reciprocal," Donald Trump said in a post on his social media platform Truth Social, adding, 'We will no longer tolerate one-sided trade and political persecution of a great friend of the United States." Following this, the total number of countries targeted under Donald Trump's renewed tariff campaign has reached 22 as earlier Donald Trump unveiled a fresh round of tariffs on several more countries, escalating his push for what he describes as 'fair and reciprocal" trade terms for American goods. The latest measures impose 30% duties on imports from Sri Lanka, Algeria, Iraq and Libya, along with 25% tariffs on Brunei and Moldova and a 20% rate on the Philippines. The announcement follows closely on the heels of Donald Trump's earlier move notifying 14 other countries of impending trade penalties. First Published: July 10, 2025, 02:20 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
