US-China trade war shows no sign of ending as new tariffs arrive
The year-long U.S.-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 U.S. goods.
Washington's latest move targets Chinese-made products like TVs and apparel that could cost the typical American consumer. In a bid to soften the blow to holiday shopping, the U.S. government has postponed the implementation of about half of them until Dec.15.
The additional tariffs come as concerns about slowing global growth are building and fear of recession stalks several major economies. Investors and executives around the world are desperate for any sign of whether the two countries will reach a truce soon.
https://www.msn.com/en-us/money/markets/us-china-trade-war-shows-no-sign-of-ending-as-new-tariffs-arrive/ar-AAGzS8R?li=BBnbfcN&pfr=1