On April 2, the U.S. launched a global tariff war by imposing a 10% baseline tariff on nearly all imports, with select partners facing tariffs as steep as 50%. Amid increasing market jitters, Washington paused most tariffs for 90 days while keeping the baseline rate in place until July 9. 😮
Now, as the 90-day break nears its end, the ambitious promise of "90 deals in 90 days" seems to have fallen short. CGTN's new feature, The Tariff Boomerang II, takes a hard look at how this strategy is circling back like an economic boomerang instead of delivering a knockout punch.
This deep dive is especially relevant for tech enthusiasts and early professionals across South and Southeast Asia. Whether you're navigating startup culture in Mumbai, staying ahead in Singapore's tech scene, or exploring fresh trends in Jakarta, these economic ripples can directly influence everything from everyday gadget prices to global supply chains. 🚀
Simply put, a "baseline tariff" is a fixed percentage added to all imports, while "reciprocal tariffs" are extra charges imposed on specific trade partners. Think of it like buying your favorite smartphone and suddenly facing unexpected extra costs at checkout!
As global trade continues to evolve, this feature reminds us that in today’s interconnected world, even policies meant to target competitors can boomerang back, affecting markets far and wide. Stay tuned for more insights into these unfolding economic trends!
Reference(s):
cgtn.com
