Lines Crossed 🥊
Trump and Xi Jinping have been tussling with tariffs since early 2018. Since March of that year, the United States has imposed tariffs on a total of $400 billion in Chinese imports. Maybe that’s why Trump feels he’s deserving of the red power tie!
Trump’s big plans are one step closer to unraveling as the World Trade Organization ruled Tuesday that the additional tariffs imposed by the United States violated international trading rules.
The Trump administration has stayed strong on their stance in claiming these tariffs were imposed to slow down Beijing’s unfair trading practices and intellectual property theft. The three-person panel of the WTO trade experts disagreed with the point of view as they believe that around $200 billion worth of the tariffs set on Chinese goods back in 2018 broke global regulations.
Still, Washington can decide to appeal the decision within 60 days, according to the World Trade Organization’s own rules. If the administration chooses this route, it will take years before the three parties find a resolution.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.