Scott Bessent warns of unsustainable trade war as tariffs rise to 145% on Chinese imports, posing challenges for small businesses

With tariffs on Chinese imports soaring to 145%, small businesses are struggling, while the e-commerce market anticipates massive growth reaching $214.5 trillion by 2033.

Sources:
ForbesFinanceDailyrecordnews+3
Updated 2h ago
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The Headline

Current Perspectives on Tariffs: Challenges and Optimism

The ongoing tariffs showdown with China is unsustainable.
Scott Bessent
U.S. Treasury Secretary
DailyrecordnewsApnews
AI is becoming more and more common in all respects, and one of the trends we're seeing is going from more traditional SEO to generative engine optimization.
Gary Huang
founder of the 7 Figure Seller Summit
Forbes
Current tariff rate on Chinese imports
145%
Forbes
China's tariff on U.S. goods
125%
Apnews
Key Facts
  • Scott Bessent emphasized the unsustainable nature of the trade war during a recent speech.DailyrecordnewsApnews
  • Tariffs have adversely affected many small businesses, leading to comments about the challenges these high fees bring.Fastcompany

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Cause And Effect

Consequences of Sustained Tariffs: Economic Forecasts

If these tariffs remain permanent, they could have ramifications for growth for both countries in 2026 and beyond.
IMF Representative
Bloomberg
Potential ramifications for growth timeline
2026 and beyond
Bloomberg
Key Facts
  • IMF warns that the confirmation of permanent tariffs could lead to negative growth impacts for both countries.Bloomberg
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Background Context

Rising Tariffs and E-commerce Growth: Background and Context

E-commerce market size in 2024
$26.8 trillion
Forbes
Projected e-commerce market size by 2033
$214.5 trillion
Forbes
CAGR of e-commerce market from 2025 to 2033
25.83%
Forbes
Key Facts
  • Tariffs have risen to 145% on Chinese imports, causing significant challenges for small businesses.Apnews
  • The e-commerce market is projected to grow from $26.8 trillion in 2024 to $214.5 trillion by 2033 with a CAGR of 25.83% from 2025 to 2033.Forbes

Other Facts in these Reports

The ongoing trade dispute has escalated as tariffs reached 125% from China on U.S. goods.
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