China Passes Tariff Law as Tensions with Trading Partners Simmer Amid Escalating Trade War with US on Nostr: Renowned Economist Warns US Tariff Hike on China May Destabilize Global Economy ...

Renowned Economist Warns US Tariff Hike on China May Destabilize Global Economy
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#52f5979e ver:0.98

Renowned economist Jeffrey Sachs warns that the US tariff hike on China may destabilize the global economy and push China towards international trade alliances like BRICS. The increased tariffs on Chinese goods, including steel, aluminum, semiconductors, and electric vehicles, could lead to China accelerating projects like the Belt and Road Initiative. Sachs highlights the US's growing protectionism and departure from global trade norms, attributing the decision to political considerations, reindustrialization efforts, and hindering China's economic growth. He also anticipates China maintaining trade openness with the EU despite a trend towards protectionism. #TradeWar #GlobalEconomy #China...

#newstr #Us #China #Tariffs #GlobalEconomy #TradeAlliances #Brics #Steel #Aluminum #Semiconductors #ElectricVehicles #BeltAndRoadInitiative #NewDevelopmentBank #Protectionism #EuropeanUnion

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