Powell warns of US tariff risks. Can Chinese aluminum sliding doors still seize the US and European markets in 2025?
Introduction On May 8, 2025, the United States and the United Kingdom reached a limited bilateral tariff reduction agreement. Under this deal, the US agreed to eliminate the 25% tariffs on UK steel and aluminum products and reduce tariffs on UK automobiles from 27.5% to 10%, with an annual quota of 100,000 vehicles. In return, the UK will lower tariffs on US beef and ethanol exports. On the same day, the US announced plans to initiate “ice-breaking” tariff negotiations with China in Geneva, Switzerland, aiming to ease trade tensions exacerbated by the current 145% tariffs on Chinese imports. Federal Reserve Chair Jerome Powell cautioned that the continuation of high tariffs […]