Today, China announced it will raise tariffs on $60 billion worth of American goods. This follows President Donald Trump’s increase of tariffs on $200 billion worth of Chinese goods on Friday. With this latest escalation in the trade war, the United States and China have assumed more entrenched positions. The one-upmanship complicates what was already a delicate, geo-political relationship. By some accounts, we may have begun a chapter of turbulent trade relations with China that could last a decade. Is this the new normal?
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