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US-China trade war escalates

US-China trade war escalates

21 Sept 11:17 Key points summarised by AI
  • The United States and China escalated their trade war by implementing new 25% tariffs on an additional $16 billion worth of each other’s goods, bringing the total value of products hit by duties to $100 billion.
  • These latest tariffs took effect despite ongoing mid-level trade talks in Washington, with President Trump publicly expressing low expectations for any significant progress from the negotiations.
  • The escalating tariffs pose significant risks to global economic growth, as the U.S. asserts it is winning the trade war due to China’s slowing economy, while China vehemently opposes the tariffs and promises further countermeasures and a WTO complaint.
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