#TrumpTariffs

This Wednesday, Donald Trump announced that the trade agreement with China is 'closed'. He spoke of imposing tariffs of 55% on Chinese products, while China would apply 10% on American ones. In a post on social media, Trump highlighted that the deal includes access to rare minerals and magnets, crucial for the industry. Although he celebrated the progress, experts warn that these tariffs could harm supply chains and the global economy. Trump also mentioned that he will send letters to other trading partners to set new tariffs before July 9, seeking to reduce the trade deficit.