Hi,GBA(@thisisGBA):#Politics | In August 2026, US President Donald Trump imposed 10%–12.5% Section 301 tariffs on major partners, including #China and #ASEAN. However, Dr. Lili Yan Ing, Secretary General of the International Economic Association, stresses that these tariffs will fail. Tariffs cannot fix US trade deficits—which hit $1.24 trillion in 2025—or inequality. Instead, passed-on costs will fuel US inflation, while 25 states are already suing the administration. Echoing Nobel laureate Joseph Stiglitz, Ing advises "no deal," urging China and ASEAN to ignore demands, strengthen regional supply chains, and leverage tech advantages. @IEA_economics The full text: https://t.co/ZEirc6NBN8 #GlobalTrade #Economy #US

2026.08.12 01:28

#Politics# | In August 2026, US President Donald Trump imposed 10%–12.5% Section 301 tariffs on major partners, including #China# and #ASEAN#. However, Dr. Lili Yan Ing, Secretary General of the International Economic Association, stresses that these tariffs will fail. Tariffs cannot fix US trade deficits—which hit $1.24 trillion in 2025—or inequality. Instead, passed-on costs will fuel US inflation, while 25 states are already suing the administration. Echoing Nobel laureate Joseph Stiglitz, Ing advises "no deal," urging China and ASEAN to ignore demands, strengthen regional supply chains, and leverage tech advantages. @IEA_economics The full text: #GlobalTrade# #Economy# #US#