YouTube là một công ty con của Alphabet, một tập đoàn công nghệ với vốn hóa thị trường 1.7 nghìn tỷ đô la. Việc Google (sau này trở thành Alphabet) mua lại YouTube vào năm 2006 với giá 1.65 tỷ đô la đã trở thành một tài sản tạo ra lợi nhuận dài hạn cho Alphabet, đóng góp gần 11% vào tổng doanh thu của công ty. Trong quý 1 năm 2023, Alphabet báo cáo doanh thu tổng cộng là 69.8 tỷ đô la, tăng 3% so với cùng kỳ năm trước, với doanh thu hàng năm từ quảng cáo của YouTube đạt gần 20 tỷ đô la vào năm 2020. Việc thêm YouTube vào danh mục của Google đã mở rộng mô hình kinh doanh của công ty từ một công cụ tìm kiếm đơn thuần thành một nền tảng lưu trữ nội dung video, cho phép tạo ra các nguồn thu nhập bổ sung từ quảng cáo và nội dung trả phí của bên thứ ba. Mặc dù doanh thu quảng cáo của YouTube đã giảm trong quý 1 năm 2023, công ty vẫn là một nguồn thu lớn đáng kể cho Alphabet.
The move marked a major escalation in tensions between the world's largest economies and a shift in tone from Trump, who had cited progress in trade talks as recently as Friday. Stock markets sank and oil prices tumbled as negotiations were thrown into doubt.
The Wall Street Journal reported that China was considering cancelling this week's trade talks in Washington in light of Trump's comments, which took Chinese officials by surprise.
A less than rosy update from United States Trade Representative Robert Lighthizer, including details that China was pulling back from some previous commitments, prompted Trump's decision.
"The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" Trump said in a tweet.
U.S. officials did not weigh in on whether China would attend this week's talks. The White House and the U.S. Trade Representative's Office declined to comment. China's commerce ministry did not immediately respond to a request for comment.
But the editor of an influential, Chinese state-run newspaper said Vice Premier Liu He was unlikely to go.
"Let Trump raise tariffs. Let's see when trade talks can resume," Hu Xijin, editor-in-chief of the tabloid the Global Times, tweeted.
The newspaper is published by the ruling Communist Party's People's Daily, but it is not considered an official publication and does not speak for the government.
Chinese media outlets have been told not to independently report on Trump's overnight tweets or tweet about them, and instead adhere to any report from the official Xinhua news agency, said a source with direct knowledge of the matter.
Global financial markets, which had been expecting news of a trade deal soon, went into a tailspin. U.S. equity futures fell more than 2 percent and stocks across trade-reliant Asia tumbled, with China's main indexes plunging 5 percent.
Trump said tariffs on $200 billion of goods would increase to 25 percent from 10 percent, reversing a decision he made in February to keep them at the 10 percent rate thanks to progress between the two sides.
The president also said he would target a further $325 billion of Chinese goods with 25 percent tariffs "shortly," essentially covering all products imported to the United States from China.
Mindful of his 2020 re-election bid, Trump suggested the measures were not leading to price increases for U.S. consumers. "The Tariffs paid to the USA have had little impact on product cost, mostly borne by China," he tweeted.
Tariffs on Chinese goods are actually paid to the United States by the companies importing the goods, and most of those companies are U.S.-based. American businesses, while supportive of Trump's crackdown on China's trade practices, are eager for the tariffs to be removed, not expanded.
"Raising tariffs means raising taxes on millions of American families and inviting further retaliation on American farmers," said Christin Fernandez, a spokeswoman for the Retail Industry Leaders Association.
Nevertheless, the president's aggressive strategy drew rare bipartisan support from U.S. Senate Democratic leader Chuck Schumer, who urged Trump to "hang tough" in a tweet: "Don't back down. Strength is the only way to win with China."
One Chinese trade expert said recent signs of resilience in both economies were breeding over-confidence.
"The urgency is gone. So, it's likely to see a longer trade war," the expert said, speaking on condition of anonymity citing the sensitivity of the topic.
The trade war resulted in billions of dollars of losses for both sides in 2018, hitting industries including autos, technology - and above all, agriculture, while inflicting collateral damage on export-reliant economies and companies from Japan to Germany.
NOT GETTING CLOSE?
Trump's move could backfire, said Tai Hui, Asia-Pacific chief market strategist at J.P. Morgan Asset Management.
"As we learnt a year ago, Beijing could be willing to walk away if the U.S. applies negotiation tactics that they don't agree with. That said, both sides have invested significant time and resources to come this far..."
On Friday, Trump said talks with China were going well.. Treasury Secretary Steven Mnuchin called the round in Beijing "productive," and one White House official told Reuters that dates were being looked at for a potential meeting between Presidents Trump and Xi Jinping in June.
Last week, industry sources said they believed the talks were in the endgame, but a Trump administration official said aides had told the president that significant hurdles remained.
The increase in U.S. tariffs on Friday would be the first since Trump imposed 10 percent tariffs on $200 billion of Chinese goods in September, coming on top of 25 percent tariffs on $50 billion of goods enacted earlier last year.
Negotiations about tariffs have been one of the remaining sticking points between the two sides. China wants the tariffs to be lifted, while Trump wants to keep some, if not all, of them as part of any final deal to ensure China lives up to its commitments, a White House official said on Sunday.
The global oil market is facing uncertainty due to the risk of recession, particularly with signals coming from China that its economy is not doing as well as expected. This has led to a downward trend in oil prices, with Brent crude trading below $76 per barrel on world markets. However, the oil slump has not had too much of a negative impact on the economy of the largest mining giants, according to Gulf Brokers. The first quarter results of Saudi Aramco, the world's largest mining company, showed a year-on-year decrease in net profit of approximately one-fifth to less than $32 billion.