"China's Tariff Pivot: Reviving US Trade Deal Amidst Global Tensions"

Mustafa Mulla, a seasoned financial journalist, has been covering blockchain and cryptocurrency for several years. With a background in trading and experience in the Fintech industry since 2017, Mulla brings a unique perspective to his reporting.

In recent news, China has proposed a new tariff plan aimed at reviving the 2020 "Phase 1" trade deal from the Trump administration. The proposal includes key promises such as halting yuan devaluation, increasing U.S. investments, and reducing fentanyl precursor exports. Despite criticizing new U.S. tariffs and the fentanyl issue, China remains open to negotiations to prevent further conflict escalation. Meanwhile, Canada has retaliated with 25% tariffs on $105 billion worth of U.S. goods, exacerbating tensions between the two neighboring countries.