Opinion: Have China, U.S. Passed Point of No Return?
On Aug. 2, U.S. President Donald Trump asked the office of the U.S. Trade Representative (USTR) to consider raising proposed tariffs on $200 billion worth of China products from 10% to 25%, provoking the Chinese government to threaten retaliation.
While China’s proposed countermeasures are not fully reciprocal, targeting only $60 million worth of U.S.-made products, they would certainly further escalate the U.S.-China trade conflict. The U.S. has already unveiled 25% tariffs on $50 billion worth of Chinese-made imports, so if the U.S. follows through on Trump’s threat, it will be levying a 25% tariff on $250 billion of Chinese products.
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