How do you deal with a bully? If you are China, you stand up to your bully, vowing that it will “fight to the end”.
On Monday (April 7), signs of an all-out trade war loomed between the US and China after President Donald Trump threatened Beijing with another 50 per cent tariff unless it withdrew its retaliatory 34 per cent levy it imposed on Washington.
But it seems that China isn’t ready to budge; its Commerce Ministry said a statement, “The US threat to escalate tariffs on China is a mistake on top of a mistake.”
So, what’s going on? How much tariff is each country imposing on the other? And what happens if neither country doesn’t back down? We take a closer look.
Content retrieved from: https://www.firstpost.com/explainers/us-donald-trump-china-tariff-war-implications-trade-explained-13878102.html.
