New fourth round of tariffs on Chinese goods will hit US consumers and firms especially hard, just as the US enters an election season
An already bitter trade war between the United States and China went a notch further on September 1, with the two economic superpowers imposing new tit-for-tat tariffs on each other’s goods.
But despite bipartisan consensus that Beijing engages in unfair trade practices and agreement on need for a recalibration of trade ties, former US officials and market observers believe President Donald Trump is fast losing support for his trade war among American business executives, farmers and swing voters.
And while there are reports that bilateral negotiations could resume later this month, the rhetoric on both sides signals more trade trouble ahead.
A stinging editorial published on Sunday by Chinese state-run news agency Xinhua accused the US of “economic warmongering” in response to the new tariff increases of 15% on more than US$125 billion in China-made goods, including an array of consumer electronics, linens and footwear.
Nile Bowie is a writer and journalist with the Asia Times covering current affairs in Singapore and Malaysia. He can be reached at nilebowie@gmail.com.
An already bitter trade war between the United States and China went a notch further on September 1, with the two economic superpowers imposing new tit-for-tat tariffs on each other’s goods.
But despite bipartisan consensus that Beijing engages in unfair trade practices and agreement on need for a recalibration of trade ties, former US officials and market observers believe President Donald Trump is fast losing support for his trade war among American business executives, farmers and swing voters.
And while there are reports that bilateral negotiations could resume later this month, the rhetoric on both sides signals more trade trouble ahead.
A stinging editorial published on Sunday by Chinese state-run news agency Xinhua accused the US of “economic warmongering” in response to the new tariff increases of 15% on more than US$125 billion in China-made goods, including an array of consumer electronics, linens and footwear.
Read the full story at Asia Times.
