Building relationships with the region, rather than transactional neocolonialism, is the best route for strengthening the United States’ critical mineral supply chains.
26m
Agence France-Presse on MSNTrump's tariff Big Bang puts global economy under threatIt took just one 50-minute speech by US President Donald Trump to undermine global economic stability and raise the prospect of a recession, with China's countermeasures only amplifying the risk of a debilitating tit-for-tat trade war.
As President Trump pushes his massive global tariffs into effect, America’s former trading partners are designing their own, retaliatory tariffs, that are sure to have a walloping effect on Americans’ pocketbooks.
Jerome H. Powell, chair of the Federal Reserve, says the central bank’s “obligation” is to ensure that a “one-time increase in the price level does not become an ongoing inflation problem.”
As President Trump finally unveils his global tariff plan — setting a baseline 10% tariff on all imported goods, with additional hikes apparently based on individual countries’ trade balances with the United States — economists like our guest Richard Wolff warn it will have grave economic effects on American consumers and lead to a recession.
The dereliction of duty by Congress is bipartisan. Last month Senate Minority Leader Chuck Schumer and nine other Democrats voted for a continuing resolution that not only passed a Republican budget but also undercut the ability of Congress to curtail Trump’s power to arbitrarily set tariffs.
The old geostrategic aphorism - “never get involved in a land war in Asia” - could be amended to include trade conflicts. U.S. President Donald Trump has ignored that advice, diving headlong into a contest with China,
Trump said repeatedly that the tariffs are “reciprocal,” but that’s not true. The rates were calculated using a childish formula based on trade imbalances.
"We have to hit Republican states and we have to hit Donald Trump's friends," a top European official told his colleagues.
US President Donald Trump said that a state of emergency is being introduced in the country due to the threat of a trade deficit to the country's national security. According to the head of state, "the source of the threat is outside the country.