Opinion: Why This Round of U.S. Protectionism is Different
The escalation of the Sino-U.S. trade war has been worrying the world over the past few weeks. After the Washington’s announcement of punitive tariffs on 1,333 Chinese products with a value of up to $60 billion under the Section 301 of Trade Act, Beijing responded very quickly with a retaliation list of 106 products of the same value. Although it is not the first time that the world has been caught in the China-U.S. crossfire, the U.S.’ protectionist moves against China look different this time. In fact, they are broader-based both as they involve a much larger number of products and in that they also target the global competition for U.S. companies and not only the U.S. market.
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