Just a quick version of where things stand as of this writing: President Trump has targeted $50 billion worth of Chinese imports with 10% tariffs. China is threatening retaliatory tariffs of their own on goods we export to that country. If China does indeed retaliate, the President has now threatened tariffs on $200 billion in Chinese imports -- four times the initial target.
Whether this turns into a full-blown trade war or not is anyone’s guess at this point. However, there are some clear disadvantages to a trade war that Americans should be aware of.
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