Trade War Escalates with China Tariffs
July 06, 2018
The United States put into effect new tariffs on July 6, 2018, on roughly US$34 billion in Chinese products. In response, the Chinese government instituted retaliatory tariffs on a comparable quantity of U.S. products.
These new tariffs follow on the heels of the recent steel and aluminum tariffs, and further trade war escalation is possible. The Trump administration is considering another round of Chinese tariffs and global automotive sector tariffs. Trading partners routinely impose retaliatory tariffs, and businesses are taking steps to adjust to the impact.
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