The U.S. and China trade war escalation continues with new tariffs of 10% on $200 billion of Chinese imports starting yesterday.
Let’s rewind back to March. President Trump tweeted that “trade wars are good, and easy to win”. Trump’s invite to this trade war was about unfair Chinese trade practices, including American companies being forced to surrender their trade secrets to obtain access to the Chinese market and cybertheft of U.S. technology. Many industry groups and both political parties would agree that China is at least partially guilty of such violations, but this unfolds a greater economic impact. Continue reading Trump’s trade war with China is getting hot.