The US-China trade war is intensifying, but at what cost?
THE trade war between China and the United States looks set to intensify after Beijing threatened retaliation to a US proposal to slap a 25 percent tariff on US$200 billion of imported Chinese goods. The administration of US President Donald Trump initially set the tariff hike at 10 percent but decided to up the ante in a bid to pressure China into making trade concessions, a source told Reuters on Tuesday. The tariffs would cover thousands of Chinese imports, including food products, chemicals, steel and aluminium and consumer goods ranging from dog food, furniture and carpets to car tires, bicycles, baseball gloves and beauty products. Despite Trump’s efforts to cow China into retreat, Beijing is showing no signs of backing down. Foreign Ministry spokesman Geng Shuang told a daily news briefing in Beijing on Wednesday that US pressure on trade won’t work, and that Beijing has always upheld using dialogue...
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