The Beijing Hour Major U.S. trade partners vow to counteract Trump’s protectionist policies
Mar 13, 2025
Major trading partners like Canada and the EU are pushing back against U.S. protectionist policies with announced retaliatory tariffs. Tensions grow as countries like Russia await details on a ceasefire proposal with Ukraine. In the midst of these conflicts, China is committed to further opening its markets, despite rising trade challenges. The podcast delves into the intricate ties between global trade dynamics and pressing geopolitical issues, revealing how interconnected economic landscapes are reshaping international relations.
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Canada's Retaliatory Tariffs
- Canada imposed retaliatory tariffs on U.S. steel, aluminum, and other goods.
- Canadian Foreign Minister Melanie Joly emphasized that Canada did not initiate the trade dispute.
Trade War Recession Risk
- Analysts warn that the ongoing trade war between the U.S. and its partners could lead to a U.S. recession.
- The tariffs increase business costs and consumer prices, raising recession concerns.
EU Counter-tariffs
- The EU plans to impose over $28 billion in levies on U.S. goods in response to U.S. trade policies.
- These countermeasures target goods like Harley-Davidson motorcycles and bourbon, impacting American businesses.