CHINA DEMANDS FULL ROLLBACK OF U.S TARIFFS!

China is demanding a full rollback of US tariffs, citing the need for "equal dialogue based on mutual respect" to resolve trade tensions. The Chinese government has urged the US to "immediately cancel" the tariffs, warning of countermeasures if they are not lifted.

Key Points:

Tariff Rates: The US has imposed a 34% tariff on Chinese exports, building on a previous 20% duty, totaling 54%. China has retaliated with tariffs of up to 125% on US goods.

-US Exemptions: Recently, the US exempted certain tech products, including smartphones, laptops, chips, and electronics, from the new tariffs. However, China considers this a "small step" and insists on a full rollback.

China's Stance: Beijing is open to trade talks but emphasizes that the US must correct its "wrong practices" and drop unilateral tariffs before negotiations can proceed.

Potential Impact: The trade war has caused fears of a renewed global trade conflict, with potential consequences for the economy and supply chains .

Possible Outcomes:

Trade Negotiations: China and the US may engage in negotiations to resolve the trade dispute, potentially leading to a rollback of tariffs.

Further Escalation: If the US doesn't comply with China's demands, the trade war could escalate further, causing more economic pain for both countries.

Economic Consequences: The tariffs could "cause real pain in some sectors" but are unlikely to derail China's economy, according to William Hurst of Cambridge University .#XRPETFs #BinanceAlphaAlert #BTCvsMarkets $BTC $XRP $SOL