Governments worldwide pledged retaliatory measures against President Trump’s new tariffs, setting the stage for what could become the largest global trade conflict since the aftermath of WWII
trade deficit
Latest in trade deficit
Donald Trump
EXPLAINER: How Trump’s ‘reciprocal’ tariffs work and what they mean for global trade
Trump argues that decades of “unfair” trade practices have hollowed out American manufacturing, undermined critical supply chains, and rendered U.S. defence industries dependent on foreign adversaries
Donald Trump
Trump imposes sweeping tariffs in major escalation of global trade war
‘It’s our declaration of economic independence,’ says Trump
India
India’s October trade gap widens to a record $31.5bn
The widening trade deficit will put pressure on the currency, which already fell to a record low recently
bilateral economic relations
Soaring Russian oil imports hit India’s rupee trade plans with the country
New Delhi’s imports from Russia in eight months to November were almost 16 times its shipments to the nation, trade ministry data show
Bilateral trade
US-China goods trade hits record amid rising political, economic tensions
Total merchandise trade between the two countries rose to $690.6 billion last year, exceeding the record set in 2018
halal
OIC member states records $63bn trade deficit for halal economy products in 2021
Increased imports of food, fashion, pharmaceuticals and cosmetics led to deficits
Chinese products
Video: Impact of US-China trade war in the Middle East
Just when we think the US-China trade war couldn’t get worse, China’s Xi Jinping would play his surprise “trump” card out of the blue or US President Donald Trump would put out an offensive tweet that would further escalate the war.
economic crisis
An economic crisis awaits Pakistan’s new leader Imran Khan
Khan said in a televised address he’ll focus on improving the lives of the poor and fighting corruption
emerging market
Pakistan’s indebted economy careens toward another IMF bailout
Pakistan, South Asia’s second-largest economy, has gone through decades of erratic growth, debt blowouts and balance-of-payments crises
Chinese imports
China vows to retaliate as Trump targets $200bn in tariffs
Markets soured as the trade war deepened, with Asian stocks and US equity futures trading lower while safe havens including the yen, gold and Treasuries climbed
Beijing
Video: US sets China $200bn trade deficit cut
The US has demanded that China slash tariffs, reduce the bilateral trade deficit and eliminate state subsidies for strategic industries, as Washington staked out a hardline position in negotiations that concluded in Beijing on Friday.