Sunday, May 25, 2025
  • Business
  • Investing
  • World-news
  • Stock
No Result
View All Result
Finance Mastery News
Advertisement
  • Business
  • Investing
  • World-news
  • Stock
No Result
View All Result
Finance Mastery News
No Result
View All Result
Home World-news

Why Trump is scrambling for allies in his trade war with China

admin by admin
April 12, 2025
in World-news
0
Why Trump is scrambling for allies in his trade war with China
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Does America want its friends back?

After three months of insulting, tariffing and even threatening to annex some of its best allies, the Trump administration suddenly needs some help.

The US President has now escalated a full-on trade clash with China that he doesn’t seem to know how to win. So the administration is rushing to work out how to build leverage against Chinese President Xi Jinping, who is in no mood to cede to Trump’s bullying.

But there’s one thing that might work. It would bring to bear America’s strength and global power and could perhaps build pressure on Beijing to act on consistent US complaints about market access, theft of intellectual property, industrial espionage and other issues. There’s only one problem: This approach would conflict with Trump’s “America first” mantra.

Treasury Secretary Scott Bessent pointed out on Fox Business this week that US allies such as Japan, South Korea and India would soon be in trade talks with Washington, as would Vietnam.

“Everyone is coming to the table, and basically China is surrounded,” he said. Bessent added that a topic of talks should be a joint goal: “How do we get China to rebalance? That is the big win here.”

White House Press Secretary Karoline Leavitt was asked on Friday why American allies would help it counter China when Trump was treating friends and foes alike. She replied: “You’ll have to talk to our allies who are reaching out to us. The phones are ringing off of the hooks. They have made it very clear they need the United States of America, they need our markets, they need our consumer base.”

But everything that Trump has done since he arrived back in the Oval Office has been designed to destroy groups of like-minded democracies. Several times this week, he dissed the European Union. “I always say it was formed to really do damage to the United States in trade,” he said.

He’s not the only Europe hater. Vice President JD Vance revealed his distaste for the continent at the Munich Security forum and also in a group chat of officials about air strikes in Yemen.

Trump’s spite in the Western hemisphere is also an issue.

A unified North American trading powerhouse has long been seen as a potential bulwark against China. But Trump has repeatedly threatened to take over Canada and has targeted Mexico with some of his toughest tariffs. New Canadian Prime Minister Mark Carney has warned that his country’s traditional relationship with Washington is over.

Still, the idea of building an allied front to try to modify China’s trade practices is such a good idea, it’s a wonder no one thought of it before.

They did. And Trump shut it down.

On the first day of his first term in 2017, Trump withdrew from the Trans-Pacific Partnership, a group of 12 nations including allies like Mexico, Canada, Japan, and Australia, as well as Japan that did not include China. The president also shut down a Transatlantic Trade and Investment Partnership that would have linked the world’s two largest markets.

The question now is whether Trump has so alienated America’s friends that they won’t take his calls.

This post appeared first on cnn.com

Previous Post

UN humanitarian agency will lay off hundreds of staff due to funding crisis

Next Post

Brazil’s Jair Bolsonaro hospitalized with abdominal pain

admin

admin

Next Post
Brazil’s Jair Bolsonaro hospitalized with abdominal pain

Brazil’s Jair Bolsonaro hospitalized with abdominal pain

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    • Trending
    • Comments
    • Latest
    Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target

    Criminals are looting millions from ATMs in Europe. Here’s why Germany is a prime target

    October 28, 2024
    Israeli MP behind bill to expel key UN agency accuses US of interfering with process

    Israeli MP behind bill to expel key UN agency accuses US of interfering with process

    October 28, 2024
    British nurse Lucy Letby loses bid to appeal single attempted murder conviction

    British nurse Lucy Letby loses bid to appeal single attempted murder conviction

    October 25, 2024
    North Korean troops spotted in Russian border region with Ukraine, says Kyiv

    North Korean troops spotted in Russian border region with Ukraine, says Kyiv

    October 25, 2024
    Ukraine and Russia begin large-scale prisoner exchange, source says

    Ukraine and Russia begin large-scale prisoner exchange, source says

    0
    Private payroll growth slowed to 122,000 in July, less than expected, ADP says

    Private payroll growth slowed to 122,000 in July, less than expected, ADP says

    0
    The 10 worst states to retire in the U.S. No. 1 isn’t California or New York

    The 10 worst states to retire in the U.S. No. 1 isn’t California or New York

    0
    Boeing taps aerospace veteran Ortberg to replace Dave Calhoun as CEO

    Boeing taps aerospace veteran Ortberg to replace Dave Calhoun as CEO

    0
    Ukraine and Russia begin large-scale prisoner exchange, source says

    Ukraine and Russia begin large-scale prisoner exchange, source says

    May 24, 2025
    In Gaza, limited food aid meets desperate crowds and looting

    In Gaza, limited food aid meets desperate crowds and looting

    May 24, 2025
    Legendary Brazilian photographer Sebastião Salgado dead at 81

    Legendary Brazilian photographer Sebastião Salgado dead at 81

    May 24, 2025
    At least 12 injured in hot air balloon crash in Mexico

    At least 12 injured in hot air balloon crash in Mexico

    May 24, 2025

    Recent News

    Ukraine and Russia begin large-scale prisoner exchange, source says

    Ukraine and Russia begin large-scale prisoner exchange, source says

    May 24, 2025
    In Gaza, limited food aid meets desperate crowds and looting

    In Gaza, limited food aid meets desperate crowds and looting

    May 24, 2025
    Legendary Brazilian photographer Sebastião Salgado dead at 81

    Legendary Brazilian photographer Sebastião Salgado dead at 81

    May 24, 2025
    At least 12 injured in hot air balloon crash in Mexico

    At least 12 injured in hot air balloon crash in Mexico

    May 24, 2025

    Disclaimer: financemasterynews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Browse by Category

    • Business
    • Investing
    • Stock
    • World-news

    Recent News

    Ukraine and Russia begin large-scale prisoner exchange, source says

    Ukraine and Russia begin large-scale prisoner exchange, source says

    May 24, 2025
    In Gaza, limited food aid meets desperate crowds and looting

    In Gaza, limited food aid meets desperate crowds and looting

    May 24, 2025
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 financemasterynews.com | All Rights Reserved

    No Result
    View All Result

    Copyright © 2025 financemasterynews.com | All Rights Reserved