US China Trade War Escalates: Tariffs Poised to Spike as 90-Day Truce Nears Expiration, Global Markets Brace for Impact
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US China Trade War Escalates: Tariffs Poised to Spike as 90-Day Truce Nears Expiration, Global Markets Brace for Impact
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Back in May, both countries brokered a fragile 90-day tariff truce, which reduced US tariffs on Chinese goods to 10%—down from a peak of 143% in April, according to AInvest. That pause eased some pressure but did not rebuild trust. With the truce set to expire on August 12, exporters, investors, and policymakers are bracing for the next move. If there’s no extension, tariffs could soar, and Chinese export sectors like electronics and renewables could face sharp repricing. The sense of uncertainty alone rattled global markets this week; as Axios reports, importers have been holding off on orders, waiting to see if new negotiations will curb or escalate tensions.
Trump’s current tariff regime, as reported by Khaama Press, is broad and tough: US duties now range from 10% to 50% on goods from dozens of countries, including China. On specific categories, the US maintains a 30% baseline and up to 50% tariffs on key Chinese imports. Key US figures, like Treasury Secretary Scott Bessent in statements to Fox, describe this as “three-dimensional chess”—a balancing act between economic leverage and national security. This posture is part of Trump’s effort to solidify his ‘tough-on-China’ legacy and squeeze concessions from President Xi. Industry response has been mixed. TSMC and Apple are dramatically reshoring chip production to the US to avoid 100% tariffs, while manufacturing and commodity markets brace for aftershocks.
For Chinese exporters, the pressure is acute. China processes about 70% of the world’s copper, vital for electronics and clean energy, but with a 50% US tariff on copper products, Chinese manufacturers—especially in semiconductors, solar, and wind—are seeing reduced US demand and rising costs. AInvest notes solar projects in the US, formerly reliant on Chinese components, are now pivoting to other suppliers, but facing supply chain snags and higher prices.
This tariff tussle isn’t just bilateral. Trump’s strategy is crosscutting: while China faces sharply increased US scrutiny, India and Brazil have also been hit with 50% tariffs for buying Russian oil and political realignment. Axios and Jacobin both highlight that these moves may be isolating traditional US allies and making room for China to deepen its ties with India and Brazil, potentially shifting the global balance.
For consumers, the reality is already unfolding. A $100 phone from China can now cost $150 after a 50% tariff, and importers are passing that price hike on to American households. Experts estimate it takes about eight months for such hikes to trickle through the economy. With midterm elections looming next year, there’s pressure on the White House to show wins without stoking voter resentment.
Meanwhile, shipping data from KYMA and transpacific indexes show ocean freight rates between China and US West Coast ports are flat at around $1,800 to $2,300 per forty-foot container, reflecting a wait-and-see approach by global importers.
Listeners, it’s a critical week for US-China trade. Watch for possible last-minute extensions or snapbacks in tariffs as Tuesday’s truce expiration nears. Thanks for tuning in to China Tariff News and Tracker. Don’t forget to subscribe for every update on the shifting tariff battlefront. This has been a quiet please production, for more check out quiet please dot ai.
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