The US-China trade war seems not to have caused much pain yet. But after 117 consecutive months of economic expansion – compared to an historical average of 48 months – the US could soon find itself thrown back into a painful recession, owing to disruptions caused by its own trade policy.
HONG KONG – Dashing hopes of a quick agreement on trade relations with China, US President Donald Trump’s administration has imposed punitive tariffs on another $200 billion of Chinese goods. Now that the Chinese government has responded with new tariffs on $60 billion of US products, the United States is threatening tariffs targeting yet another $300 billion of Chinese imports. Both sides are now digging in for a long fight – largely because Americans have yet to feel the pain of Trump’s policies.
HONG KONG – Dashing hopes of a quick agreement on trade relations with China, US President Donald Trump’s administration has imposed punitive tariffs on another $200 billion of Chinese goods. Now that the Chinese government has responded with new tariffs on $60 billion of US products, the United States is threatening tariffs targeting yet another $300 billion of Chinese imports. Both sides are now digging in for a long fight – largely because Americans have yet to feel the pain of Trump’s policies.