The US President’s aggressive manoeuvres offer Beijing a unique opportunity: bolster its already impressive engagements with nations.
Trump’s move to wield tariffs as a primary tool of economic statecraft is a gamble with high stakes. / Photo: AFPa 25 percent tariff on goods imported from Canada and Mexico and 10 percent tariff on goods from China , he set the cat among the pigeons and sparked a tit-for-tat global trade war.a couple of days later, slapping a 15 percent tariff on US coal and LNG and 10 percent levies on some other products, effective February 10.
This resulted in increased costs for US consumers on a range of goods, from electronics to clothing, and significantly impacted American farmers who saw their exports to China plummet., for example, estimated that the trade war reduced US GDP by roughly 0.3 percent. This is equivalent to a loss of $62 billion.Trump’s move to wield tariffs as a primary tool of economic statecraft is a gamble with high stakes.
China has consistently championed multilateralism, emphasising the importance of international cooperation and the WTO's rules-based system. In Asia, the China-Pakistan Economic Corridor has facilitated the development of power plants, roads, and ports. The Gwadar Port, a CPEC project, has transformed from a small fishing port into a major regional hub.
In Latin America, China has become a vital trading partner for many nations. Beijing has remained the South American nation’s largest trading partner and export destination for the past 15 consecutive years.between the two countries reached $181.53 billion in 2023, with Brazil becoming the first Latin American country to surpass $100 billion in exports to China.
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