US vs China: Trade War

After months of threats and skirmishes, the trade war between the United States and China is about to get serious.

On Friday, the world’s top two economies are due to exchange fire by hitting $34 billion of each other’s exports with steep new tariffs, the first moves in what may become a devastating cycle of retaliation.

The planned measures have already unsettled marketsand provoked warnings from companies of damage to their bottom lines and higher prices for consumers.

President Donald Trump and his advisers argue the tariffs are necessary to pressure China into abandoning unfair practices such as stealing intellectual property and forcing American companies to hand over valuable technology.

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