China’s new tariffs on US goods to come into effect as Trump pauses measures for other countries – business live
Guardian4 days
US-China Trade War Escalates as Tariffs Soar to 145%
Above: Donald Trump in the Oval Office of the White House in Washington, D.C., on April 7, 2025. Image copyright: Yuri Gripas/Abaca/Contributor/Bloomberg via Getty Images
The Spin
Pro-establishment narrative
The tariffs are crucial to protecting U.S. interests, encouraging domestic manufacturing, and creating leverage for future negotiations with China. The 90-day pause for other nations is a strategic approach to reset global trading relationships and maintain pressure on Beijing to address specific concerns about fentanyl trafficking and unfair trade practices.
Establishment-critical narrative
The escalating tariff war threatens to devastate global trade, spike inflation, and potentially trigger a financial crisis. The dramatic market reactions and bond yield volatility indicate serious risks to economic stability. The potential for Chinese retaliation through rare earth restrictions or Treasury sales could severely impact U.S. military readiness and borrowing costs.