Economic Developments – Update
China stands to gain from the ongoing trade conflict between the United States and its European allies.
“If anyone is benefiting from the situation, it is undoubtedly China. The trade tensions between the United States and Europe play to its advantage,” stated an industry expert.
These remarks follow US President Donald Trump’s recent threat to impose tariffs as high as 200 percent on French wines, champagne, and various alcoholic beverages imported from the European Union. This marks another chapter in the escalating trade dispute.
Trump’s threats are a direct response to the European Union’s proposal for tariffs on US whiskey exports, a retaliatory measure stemming from his earlier imposition of tariffs on steel and aluminum products.
The expert reiterated that while the European Union remains prepared to retaliate, it is crucial to exercise caution, as trade wars often lead to elevated inflation rates, adversely impacting consumers.
For more updates, subscribe to our channel on Telegram