The U.S. sparked global economic chaos in April by slapping a 10% baseline tariff on all trading partners—and even higher rates (up to 50%!) on select countries. Markets plunged, and Washington quickly hit pause 🛑, suspending most tariffs for 90 days. But with the deadline looming on July 9, their promise of "90 deals in 90 days" has collapsed. 💸
Now, CGTN’s new feature "The Tariff Boomerang II" breaks down how this strategy backfired. Instead of delivering a knockout blow, the tariffs ricocheted like a boomerang, hurting supply chains, inflating prices, and sparking global backlash. 📉 From farmers to tech giants, no one escaped the fallout.
🔍 The report dives into real-world impacts: Why did tariffs meant to "protect" U.S. industries end up costing jobs? How did allies turn into trade rivals? And what’s next as the clock ticks on July’s deadline? Spoiler: It’s not looking good for a soft landing. 🚨
