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 ***** and Chinese President Xi Jinping. But with ***** 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.
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