The News
Beijing ratcheted up tensions with the US Tuesday as the world’s two biggest economies pummeled each other with tariffs in a fast-escalating trade war.
China vowed to “fight to the end” after US President Donald Trump threatened additional 50% duties on Chinese goods if Beijing did not withdraw its reciprocal levy: Though China cannot match Washington’s tariffs like-for-like, it has a chokehold over key supply chain bottlenecks.
The European Union, too, is readying “a full spectrum of countermeasures,” Bloomberg reported, including potentially taxing Silicon Valley giants, and other major American trading partners are exacting pressure in other ways: Canada has matched US auto tariffs and launched an advertising campaign across the border against Trump’s trade policy.
