U.S. Firms Caught in the Crossfire in Trade War with China
MIN READJun 20, 2018 | 13:58 GMT
U.S. Secretary of State Mike Pompeo (L) shakes hands with Chinese President Xi Jinping during a meeting on June 14 in Beijing. China might not impose more tariffs on the United States in response to the White House's actions, but its alternate methods could still have a big impact on U.S. exporters and consumers.
(FRED DUFOUR-POOL/Getty Images)
The United States has fired new salvoes in its dispute with China, but the latest blow is unlikely to be the last in a rapidly developing trade war. On June 18, the White House announced that President Donald Trump had directed the U.S. Treasury to identify a list of imports from China worth $200 billion for subjection to a 10 percent tariff. Trump could be using the threats as leverage in trade talks, but the latest actions are pushing the United States and China closer toward a trade war -- which would have deep, economic ramifications for industry and consumers alike....