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Economic Times
19 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.
Time of India
26 minutes ago
- Time of India
‘Illegitimate and shameful': Marco Rubio announces fresh sanctions on UN human rights official Francesca Albanese; says this ‘will protect our sovereignty'
Marco Rubio (AP) Secretary of State Marco Rubio on Wednesday announced new sanctions against a senior UN Human Rights Council official who criticized Israel's military actions in Gaza. Rubio accused the official of leading a 'campaign of political and economic warfare' against both the United States and Israel, as reported by Politico. Francesca Albanese, UN Human Rights Council Special Rapporteur, had called for the International Criminal Court (ICC) 'to investigate and prosecute corporate executives and/or corporate entities,'. Albanese alleged that war crimes had been committed by Israel during its war with Hamas. 'The United States will continue to take whatever actions we deem necessary to respond to lawfare and protect our sovereignty and that of our allies,' Rubio had responded in a statement. He said Albanese's efforts to push for criminal prosecutions by the ICC and other bodies are 'illegitimate and shameful.' Earlier this month, the US had called for the United Nations to remove Albanese on the grounds of 'virulent antisemitism and support for terrorism". 'An unacceptable campaign of political and economic warfare against the American and worldwide economy.' wrote Dorothy Shea, the active US representative to the UN, in the letter. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Lagos: refrigerators for sale - see the price and be surprised Refrigerators | Search Ads Search Now Undo In the report titled 'From Economy of Occupation to Economy of Genocide,' Albanese named 48 corporate companies, ranging from arms manufacturers to financial firms, accused of profiting through their cooperation with the Israeli government. 'Israel's settler-colonial occupation has transformed into an insidious, bureaucratic and militarized regime of destruction — a calculated economy of genocide,' she wrote. Albanese, an Italian scholar, was appointed in 2022 and has urged for arms embargo and sanctions against Israel since its full-scale invasion of Gaza in October 2023. She had publicly remarked that 'the victims of the October 7 massacre were not murdered because of their Jewishness, but in response to Israeli oppression,' following which she was banned from Israel in February 2024. She had previously stated that Israel's offensive in Gaza is 'part of a long-term international, systematic state-organized forced displacement and replacement of Palestinians.'
News18
27 minutes ago
- News18
Elon Musk Reacts To Linda Yaccarino's Exit From X: ‘Thank You For...'
Elon Musk thanked outgoing X CEO Linda Yaccarino after her resignation. Here's what he said Elon Musk publicly thanked outgoing X CEO Linda Yaccarino after she announced her resignation from the company. Reacting in the comments under Linda Yaccarino's farewell post on X (formerly Twitter), Elon Musk wrote simply, 'Thank you for your contributions." Linda Yaccarino, who joined X in 2023 to oversee business operations while Elon Musk focused on product and tech, officially stepped down after a tumultuous two-year tenure. In her resignation message, she expressed deep appreciation for Elon Musk's trust in her leadership and his vision for transforming the platform into the 'Everything App." 'When @elonmusk and I first spoke of his vision for X, I knew it would be the opportunity of a lifetime to carry out the extraordinary mission of this company," she wrote, adding, 'I'm immensely grateful to him for entrusting me with the responsibility of protecting free speech, turning the company around, and transforming X into the Everything App." Linda Yaccarino, a veteran media executive, joined X in 2023 after a long and successful career at NBCUniversal, where she served as Chairman of Global Advertising and Partnerships. Known for her deep ties to the advertising world, she was brought on to stabilize X's ad revenue and help rebrand the platform amid ongoing turbulence under Elon Musk's ownership. Linda Yaccarino's time as CEO saw her navigating sharp advertiser exits, a volatile public image for the platform and the integration of new products including Grok, X's controversial AI chatbot. Her exit comes just weeks after Elon Musk transferred ownership of X to his AI venture xAI- signaling a deeper shift toward artificial intelligence initiatives. view comments First Published: July 10, 2025, 02:31 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.
