Chinese flags and American flags are displayed at a business in Beijing. Washington and Beijing’s renewed feud over Hong Kong's autonomy is increasing the risk for more tariff hikes and other trade salvos between the world's two largest economies.
Rising bilateral tensions stemming from Beijing's proposed national security legislation for Hong Kong are increasing the risk that the "phase one" trade deal between the United States and China will collapse before the end of 2020. The deal itself may still officially exist, but tit-for-tat escalation on tariffs and trade measures will render it functionally dead. Further retaliation by the United States over the Hong Kong legislation also risks triggering Chinese countermeasures beyond trade policy....
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