#trade-war

#trade-war

How India's refusal to acknowledge Trump's mediation during the brief war with Pakistan led to a trade war with the US. For decades, the United States has been courting India as a counterbalance to China in Asia. But after Indian Prime Minister Narendra Modi refused to agree with US President Donald Trump's insistence that he had ended a Pakistan-India military conflict in May, Trump slapped 50 percent tariffs on Indian goods entering the US market.

Trump's tariffs will reduce the competitiveness of US manufacturing and reduce manufacturing employment. They're raising the costs of production to US manufacturing companies.

Goldman Sachs economists noted one distinction between this year and last: the unemployment rate was rising alongside slowing hiring rates last year, while this year has seen stability.

Trump's tariffs, the highest since the 1930s, have resulted in $64 billion in new revenue for the U.S. in the second quarter, a $47 billion increase over the previous year.

Europe's trade commissioner insists we want to use every minute until 1 August to find a negotiated solution. The European Union is readying a package of tariffs.

Large and persistent annual U.S. goods trade deficits, which have grown by over 40 percent in the past 5 years alone, reach $1.2 trillion in 2024, pose an extraordinary threat to national security.

During Amazon's Prime Day, analysts expect $23.8 billion in online sales, with a focus on categories like apparel and electronics facing significant price drops.

"Deglobalization has had its roots in the geopolitical and economic competition between the United States and China," Wells Fargo said. "Recent events raise the possibility of further cleaving of the global economic order. Specifically, the possibility that the European Union goes in its own geopolitical and economic direction is no longer unfathomable."

"As well as steel and silicon plants, Baotou is home to China's monopoly on rare earths, with more than 80% of the country's reserves located there."

FedEx Corp. is facing a significant downturn in profits this quarter due to President Trump’s trade war, causing uncertainty for the remainder of the year.

"From the 1950s to the 1980s, Mountain Pass produced practically all known quantities of europium, as well as over 90% across the spectrum of rare earth minerals worldwide."

Companies are struggling to develop medium-term strategies due to the chaos resulting from the trade war, focusing instead on short-term solutions for operations.

Germany's economy faces recession for two more years due to potential US tariffs, which could lead to a decline in output and significant job losses.