Dr. Peter Tanos, an academic and economic expert, highlighted that the ongoing tension between former U.S. President Donald Trump and businessman Elon Musk reflects growing contradictions within the U.S. economy due to the trade policies implemented during Trump’s administration. These policies have affected both the domestic and global economies. Dr. Tanos explained during an interview on the program “Midday” broadcast on “Cairo News” that the high tariffs have caused internal economic friction. He noted that Musk’s losses, which neared $100 billion, were a direct result of these policies, fueling political and economic tensions between the two figures. Tanos added that Trump continues to rely on tariffs as a key negotiation tool, aiming to maintain a minimum tariff rate of 10% on all imports to boost revenues and reduce budget deficits. High-level negotiations between U.S. Treasury and trade officials with their counterparts in Washington and Beijing are expected soon. Regarding the recent communication between Trump and the Chinese president, Tanos stated that both sides appear eager to reach a comprehensive trade agreement, especially given China’s internal financial market challenges, making it beneficial for both parties to ease trade tensions and exchange economic benefits. He emphasized that potential understandings between Washington and Beijing could pave the way for calming the trade war and restoring balance to global economic relations, as internal pressures in both countries necessitate reaching a deal that serves mutual interests.
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