Trade War between China and the United States

SOURCE www.breitbart.com
China announced a 34 percent tariff on all U.S. goods in retaliation for President Trump's tariffs, filed a lawsuit with the WTO, and imposed more export controls and sanctions on U.S. companies. Trump dismissed China's actions, saying they panicked.

Key Points

  • China announced a 34% tariff on all U.S. goods in retaliation for Trump's tariffs.
  • China filed a lawsuit with the WTO over the Trump tariffs.
  • China imposed more export controls and sanctions on U.S. companies.
  • Trump dismissed China's actions, accusing them of panicking.

Pros

  • China is standing up to what they view as unfair tariffs imposed by the United States.

Cons

  • Tariffs could lead to increased prices for consumers in both countries.
  • Escalating trade tensions could negatively impact global economy.