The trade war isn't over. It's just beginning
Summary
New global tariffs are being introduced, suggesting that the trade disputes are ongoing rather than resolved. President Trump has recently imposed and increased tariffs on countries like India and announced tariffs on semiconductors. There are various international disagreements and new tariffs expected in the coming weeks.Key Facts
- The U.S. has begun new global tariffs under President Trump's administration.
- A 25% tariff was imposed on India, which was later doubled, due to its oil purchases from Russia.
- A 100% tariff on semiconductors was announced, but exemptions exist for companies building in the U.S.
- Discrepancies exist between U.S. and Japanese understandings of tariff deals, and negotiations continue.
- China's exports increased in July, partly to avoid U.S. tariffs through intermediate countries.
- The Conference Board reported improved CEO sentiment as tariffs became less of a concern.
- More tariffs could be introduced soon on items like lumber, pharmaceuticals, and via sanctions on Russia.
- The U.S.-China trade truce is set to expire on August 12, with future negotiations uncertain.
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