The year-long US-China trade war escalated dramatically in August. Now the world is watching to see what the impact will be from the new tariffs that kick in this weekend.
Hong Kong The year-long US-China trade war escalated dramatically in August. Now the world is watching to see whether new tariffs that kick in this weekend will bring the two economic superpowers to the negotiating table, or set the stage for more damaging exchanges of fire.
The latest round of tariffs that the United States and China imposed on each other go into effect Sunday. This volley kicked off after Washington announced early in August that it would impose 10% tariffs — later raised to 15% -— on Chinese imports worth $300 billion. Beijing countered with tariffs of 5% to 10% on about $75 billion worth of US goods. Washington's latest move targets Chinese-made products like TVs and apparel that could cost the typical American consumer.
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