The China-US trade war has been ongoing significantly impacting both countries' economies.
Tariffs and Escalation
➡️The US has imposed a 54% total import tariff on China.
➡️China has imposed a 125% tariff on American goods, including agricultural products.
➡️Recent developments include the Trump administration's 10% tariff increase in February 2025 and another 10% increase in March, prompting China to respond with a 15% tariff on American goods.
⏩Impact and Concerns
➡️The trade war has caused a 0.2% loss of global merchandise trade and negatively affected both countries' economies.
➡️The US is concerned about China's intellectual property theft, forced technology transfer, and state-led economic policies.
➡️China denies these allegations, accusing the US of nationalist protectionism and citing negative global effects.
🌡️💉💉💉Economic Effects💉💉💉
In US
➡️Higher costs for manufacturers
➡️Increased prices for consumers
➡️Financial difficulties for farmers
In China
➡️Slowdown in economic and industrial output growth
➡️Many American companies shifting supply chains to other parts of Asia
Recent Developments
➡️The US excluded Chinese exported cellphones, computers, and electronics from some tariffs.
➡️China notified the US of its intention to ban exports of key components used in semiconductor manufacturing.
Regarding Binance, the trade war's impact on the cryptocurrency market is a concern. Binance Coin (BNB) had a market cap of $84.49 billion and a price of $592.20 as of April 19, 2025. However, specific details on Binance's situation are scarce.
