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President Trump announced he is raising the tariff on Chinese goods to 125%. NBC News’ Brian Cheung took a look at how the prices of products from electronics to furniture and clothing could be ...

President Trump announced he is raising the tariff on Chinese goods to 125%. NBC News’ Brian Cheung took a look at how the prices of products from electronics to furniture and clothing could be ...

This battle between the US and China goes far beyond market turmoil – it has killed off the liberal dream of a borderless world
Donald Trump’s decision to impose a on Chinese imports into the US has raised stakes in the struggle between the world’s two biggest economies. If the markets have been spooked by the events of the past week then that’s hardly surprising.
Over the past few decades, phoney trade wars have been commonplace. Rival nations have squared off against each other, indulged in a bit of sabre-rattling, but eventually agreed on a deal. Headlines that screamed “trade war looms” were quickly replaced by those that read “trade war averted”.
This time it’s different. The battle between the US and China prompted by Trump’s tariffs is no pretend trade war. It is the real deal – and it will have real consequences. Tariffs operate as a tax, adding to the costs of doing business and raising prices for consumers. Growth will slow and inflation rates will rise. The global economy was already growing only slowly. As things stand, it is now heading for recession.
Trump seems prepared for this, making it clear that he is ready for some short-term pain for what he thinks will be long-term gains: a revitalised US industrial base and higher exports. This also represents a shift in approach. In the past, US policymakers have tended to take fright at big falls on Wall Street and have eased policy to limit the damage.
But only up to a point. The spread of the panic to the bond market seems to have forced something of a rethink. Hence the announcement of a 90-day tariff pause for all countries other than China. Perhaps this is Trump’s , where he has been forced into a partial U-turn by a sell-off in US assets. Important though they are, the market turmoil and the heightened risk of recession are only part of the story. Trade will continue despite Trump’s tariffs and China’s tit-for-tat response to them. Talk of the end of globalisation is exaggerated. Rather, the dawn of a new protectionist era represents the end of a particular model of globalisation, an imagined liberal nirvana in which all barriers – to movement of goods, people and money – would be dismantled.
This hyper-liberalised dream world has been on its way out ever since the global financial crisis of 2008, and all that was needed was a final shove, which Trump has just administered. From now on, migration will be restricted, supply chains will be shorter, hands-on industrial strategies will be back in favour, trade barriers will be removed only slowly.
Larry Elliott is a Guardian columnist

In a new exhibition, the ‘monstrous’ history of chinoiserie is used to discuss ideas of women and femininity
– the European practice of imitating Chinese aesthetics – flourished throughout the 17th and 18th centuries, touching areas ranging from home decor to gardens, architecture and even the literary arts.
The Met’s fascinating new exhibit, Monstrous Beauty, takes an innovative look at the practice by showing the significant role it played in shaping modern womanhood, and offering compelling arguments about how it can revise our ideas of women and femininity.

President Zelensky says two soldiers were captured while fighting in Ukraine's Donetsk region.

By Shirley L NgThe Takeaways Recognition of Chinese Immigrants’ Contributions: Brooklyn Councilmember Susan Zhang ...

By Shirley L NgThe Takeaways Recognition of Chinese Immigrants’ Contributions: Brooklyn Councilmember Susan Zhang ...

foreign ministry called on the US to stop its 'arrogant and bullying behaviour' after President 104% duties on Chinese imports took effect. Speaking to reporters at a regular media briefing, Chinese foreign ministry spokesperson Lin Jian said the US continued to impose tariffs on China 'indiscriminately'. 'If the US really wants to solve the problem through dialogue and negotiation, it should adopt an attitude of equality, respect and mutual benefit,' Lin added. Trump's 'reciprocal' tariffs on dozens of countries began on Wednesday, including 104% duties on Chinese goods, deepening his global trade war and triggering more widespread selling across financial markets

State media drove social media discussions around phrases like: “America is fighting a trade war while begging for eggs.”

Australia well placed to deal with uncertainty of global economy but should be prepared as US doubles down on protectionist policies, economists warn
Australia’s economy will not escape unscathed from Donald Trump’s trade war, economists have warned, after the US hiked duties on Chinese imports to 104% and enacted world-wide tariffs that have .
As regional and the Australian dollar slid below US60 cents, and to its lowest in more than two decades outside the pandemic, experts warned trade between China and the United States would grind to a halt as Trump followed through on his threat to slap even higher “reciprocal” import duties on about 60 trading partners.

Authorities have detained the person in charge of the facility as they investigate the cause of the fire.

Loyal customers of Asian supermarkets and other grocery stores that specialize in selling imported food are wondering what will happen to prices given the extra-high tariffs President Donald Trump put ...