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Editorial: El País

Más que aranceles, guerra comercial
Feb. 5, 2025

  • China has responded to the US's trade war by imposing a 10% tariff on US imported products.
  • China has also initiated an investigation against Google for possible monopoly.
  • China's response is seeking to maximize the impact on the US and minimize it in China.
  • Xi Jinping's government has strategically responded to Trump, leaving room for negotiation.
  • Trade between both countries has decreased, but China's trade surplus remains very large.
  • The risk of a full-scale trade war is getting closer.
  • The battle between the two giants is actually over technological and military dominance.
  • Trump sees trade as a zero-sum game, with no potential for mutual benefit.

Conclusion: Ultimately, Trump seeks to change the functioning of the global trade system, representing the biggest blow to world order since Bretton Woods. Economic policy uncertainty produces few winners, and tariffs are dangerous for all involved.