Can Trump Win a China Trade War? We May Soon Find Out
U.S. President Donald Trump on July 6 made good on a threat to start a trade war with China by imposing 25 percent tariffs on $34 billion worth of Chinese imports. Trump said the levies were justified after decades in which China tilted the playing field, including by stealing American know-how. China immediately hit back with tariffs on an equal amount of U.S. goods. Barring talks in coming weeks, Trump says the U.S. will apply tariffs, which act like a tax on imports, to another $16 billion worth of Chinese goods, followed by $200 billion more. The final total could exceed $500 billion — more than the U.S. bought from China in 2017. The U.S. already had imposed levies on steel and aluminum imports from most countries, including allies Canada, Mexico and the European Union.