THE TRADE WAR is escalating, and quick. On April eighth Chinese language officers vowed to “combat to the tip” within the face of recent threats from Donald Trump, made simply hours earlier. Having at first promised levies of 34% on Chinese language items, America’s president now vows to ratchet up tariffs by one other 50% if China doesn’t drop its retaliatory tariffs, additionally of 34%. In keeping with Goldman Sachs, a financial institution, such measures would carry America’s tariff price on China to 110% on April ninth, when the levies are as a consequence of come into impact. A day later Chinese language tariffs on American items would stand at about 70%.
