Trump Tosses Out The Trade Rulebook With Latest Tariffs
MIN READApr 6, 2018 | 22:41 GMT
A cargo ship carrying containers stops at Qingdao Port on April 6 in Qingdao, China. The United States has shown little fear of the consequences of escalating trade tensions with China far beyond what would be considered a typical dispute, and China has so far stood up to those escalations.
U.S. President Donald Trump keeps nudging China toward a trade war. After markets closed on April 5, the White House announced in a press statement that Trump had directed U.S. Trade Representative Robert Lighthizer to consider increasing the amount of Chinese goods subject to new U.S. tariffs by another $100 billion in value. This move triples the severity of the $50 billion in tariffs that Washington announced on March 22, which Beijing responded to in kind earlier this week. If implemented, the new tariffs could mark the beginning of an all-out trade war between the world's two largest economies....