On Friday, the US raised import taxes to 25 percent on billions of dollars’ worth of Chinese goods, marking the latest escalation in a growing trade war that has raged on for more than a year. When the tariffs were initially announced, many saw them as a negotiating tactic, designed to put pressure on the ongoing trade talks between President Trump and Chinese President Xi Jinping. But with Trump now in Washington and cheerleading the new taxes on Twitter, it seems clear that the 25 percent tax will be around for a while.
China has already retaliated with additional tariffs on $60 billion worth of US imports to China, including chemicals and frozen produce, raising the real danger of further escalation from the US.
