· 2 min read
illuminem summarises for you the essential news of the day. Read the full piece on The Washington Post or enjoy below:
🗞️ Driving the news: China has imposed a 34% tariff on U.S. goods in direct retaliation to President Donald Trump’s sweeping new tariffs, which include a similar levy on Chinese imports
• Beijing also suspended export licences for 16 U.S. firms and launched trade probes, escalating fears of a global trade war
• Stock markets in Asia, Europe, and the U.S. plummeted in response
🔭 The context: Trump recently introduced new tariffs on imports from nearly all countries, citing national security and the fentanyl crisis, with particularly high rates for countries like Vietnam (46%), Taiwan (32%), and Japan (24%)
• China responded by condemning what it called “unilateral bullying” and expanding its list of unreliable foreign entities
• This follows earlier rounds of tariffs from Trump, some as high as 45%
🌍 Why it matters for the planet: The trade war threatens global economic stability, which could stall progress on international sustainability goals and undermine cooperation on climate initiatives
• Countries affected may shift focus from ESG commitments to economic survival
• Rising costs and uncertainty may also impact green tech supply chains
⏭️ What's next: Negotiations may be on the horizon, as Trump suggested he is open to deals, prompting diplomatic outreach from Taiwan and Vietnam
• However, analysts warn that deepening hostilities could derail any near-term resolution
• The risk of a prolonged trade war may drive significant realignments in global trade flows
💬 One quote: “Trump’s policy is to scare people first... From China’s perspective, this is blackmail, and China is different from America’s allies.” – Wang Yiwei, Renmin University, Beijing
📈 One stat: Japan’s Nikkei index fell 3.6% on Friday, heading for its steepest weekly decline in five years
See here detailed sustainability performance of companies like Toyota
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