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U.S. President Donald Trump escalated his trade war with Beijing, imposing tariffs of up to 10 percent on about $200 billion worth of imports. The move was described by one senior Chinese regulator as having “poisoned” the atmosphere for negotiations. In response, China has hit back at fresh U.S. tariffs on Chinese goods, announcing its own additional duties on US$60 billion worth of American imports. With the U.S. stock market soaring and China’s sinking, the move seems to be pushing all the right buttons. However, many predict that the tariffs could pose a significant burden to the U.S. economy.
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