As we step into 2025, the shadow of the trade war still lingers over global markets. The United States is once again brandishing the tariff stick, signaling a potential escalation in trade tensions.
On February 10, President Donald Trump ordered a 25 percent tariff on all steel and aluminum imports. This move is part of a broader strategy, with the U.S. threatening to levy hundreds of billions or even trillions of dollars in tariffs on companies that do not produce their products domestically.
This raises critical questions: Can the U.S. usher in a \"golden age\" by relying on tariffs? While acting in the name of free trade, the U.S. appears to be practicing trade protectionism, challenging the notions of fairness and reciprocity under what some describe as double standards.
Looking back at history, the U.S. has often faced significant consequences from its own tariff hikes. These retrogressive actions prompt us to ask: Who will ultimately bear the costs of these trade policies? The ripple effects are felt across global markets, particularly in Asian economies that are deeply integrated into international trade networks.
For a deeper understanding of the economic truths behind these tariffs, tune into the CGTN documentary \"The Tariff Boomerang\" airing at 7:30 p.m. BJT on February 11.
Reference(s):
cgtn.com
