Where once the world came together to fight the credit crunch, Trump’s tariffs will set a more divisive test
When the world’s finance ministers and central bank governors gather at the International Monetary Fund in Washington this week, it may kindle memories of another meeting, also held against the backdrop of a global economic crisis, in autumn 2008.
Then, as the aftershocks from the collapse of Lehman Brothers ripped through financial markets, central banks coordinated drastic emergency rate cuts, and the UK chancellor, Alistair Darling, urged his G7 counterparts to emulate the UK’s approach and shore up stricken banks.
Development may be indication China is softening on beginning negotiations over American 145% tariffs
The US has approached China seeking talks over Donald Trump’s 145% tariffs, a social media account affiliated with Chinese state media has said, potentially signalling Beijing’s openness to negotiations.
“The US has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue,” Yuyuan Tantian reported in a post published on its official Weibo social media account, citing anonymous sources.