Trump launches the opening salvo in US trade war with China as tariffs take effect
The U.S. tariffs on $34 billion worth of Chinese goods kicked in on Friday, taking the war of words between the nations into the real economic realm.
It’s unlikely to stop there, according to experts. In fact, there will be probably be “escalation upon escalation,” warned Geoff Raby, Australia’s former ambassador to China.
Ahead of the Friday implementation of American and Chinese tariffs, Raby told CNBC that “it looks like the first shots to the trade war are about to be fired.”
