US risks pushing European allies into China's arms with new tariffs, experts warn [FOX Business Network]
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Source: FOX Business Network
The U.S. is in jeopardy of encouraging allied European nations to strengthen ties with China amid President Donald Trump's new wave of stringent tariffs , according to experts. The Trump administration announced April 9 it would scale back reciprocal tariffs on other countries for 90 days, but that it would immediately hike tariffs on Chinese goods to 145%. China proceeded to boost its tariffs on U.S. goods to 125%. The constant flip-flopping on policies will prompt European leaders to edge closer to China, which may be viewed as a more reliable trade partner, said Michael Strain, director of economic policy studies at the conservative-leaning American Enterprise Institute think tank in Washington. "President Trump's erratic and punitive trade war is pushing Europe closer to China," Strain said in a Monday email to Fox News Digital. "European leaders seem to believe that China would be a more stable and predictable economic partner than the United States. This is both remarkabl
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