10 May 2019   Leave a comment

Even as the US and China continue to negotiate on their trading relationship, US President Trump imposed higher tariffs on many products imported from China. China has vowed to retaliate, but has yet to do so. Perhaps it is waiting for the outcome of the discussions today. I cannot determine whether the new tariffs are intended merely as a negotiating ploy or whether Mr. Trump intends to keep them in place until the China make substantive concession. China seems reluctant to make those concessions, largely because China does not wish to be seen as capitulating to US demands. And China has some ways to retaliate that will harm the US economy. In the meantime, the tariffs will negatively affect US citizens in rural areas disproportionately.

The tariffs affect over 5,000 products. If you want top see the complete list, click here. The uncertainty over the clash has erased about $2 trillion of global stocks.

Posted May 10, 2019 by vferraro1971 in World Politics

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