It appears that a trade war with China is imminent. On Tuesday, the White House announced a plan to impose a 25% tariff on $50 billion worth of goods imported from China. Trump reportedly plans to take steps to protect domestic technology and intellectual property from "discriminatory and burdensome trade practices by China." Earlier this month the two countries agreed to dial back threats of tens of billions in tariffs on imported goods. The US and China also agreed that China would increase purchases of US goods and services to cut down on their trade imbalance. This recent decision definitely goes against the previous agreement.
Source: http://money.cnn.com/2018/05/29/news/economy/china-tariffs/index.html
By: Michael Dieckman
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