Phnom Penh (FN), Feb. 7 – President Donald Trump has started his second term off with a flurry of policy actions and executive orders impacting the US economy and trade with other nations.

Just two weeks into office, President Trump announced tariffs on key trade partners, with those on China moving forward. In response, China has imposed retaliatory tariffs on US goods, effective 10 February 2025.

If both nations maintain tariffs, US real GDP could shrink by $55 billion over Trump’s term, while China faces a $128 billion hit. Affected industries include electronics, textiles, agriculture, and energy, with potential job losses in both countries.

Trump aims to pressure China to curb fentanyl exports, while leaders plan talks. However, continued tariffs risk worsening economic damage for both nations.

This article was originally published on Voronoiapp.
=FRESH NEWS