Washington Threatens Major Tariff Increase on Chinese Goods

Gaza: The Trump administration on Wednesday announced a potential 245% tariff on Chinese goods, escalating trade tensions in response to Beijing's retaliatory actions. These actions from China include not only increased tariffs but also a suspension of metal exports, contributing to the ongoing trade dispute between the two economic giants. According to Yemen News Agency, the White House revealed that over 75 countries have already engaged with the administration in discussions regarding new trade agreements. This development comes as President Trump has signed orders to increase tariffs on steel and aluminum to 25%, while also initiating an investigation into the national security implications of relying heavily on imported metals. Should the investigation conclude that these imports pose a threat to U.S. national security, further tariffs may be imposed. White House Press Secretary Karoline Leavitt mentioned that the administration is currently evaluating trade proposals from over 15 countries, with annou ncements on certain deals expected in the near future. Vice President J.D. Vance's recent comments suggest that the UK might secure a favorable trade deal, owing to President Trump's positive stance towards the country. Last week's announcement by President Trump of a 90-day suspension of global tariffs led to a positive reaction in global stock markets, with significant upticks observed across various indices.