US-China Trade War Heats Up

China has imposed tariffs( taxes on imported goods) on $60 billion of US imports. This will be effective from June 1st. This is in retaliation to the 25% tariffs imposed by Trump administration on $200 billion of Chinese imports into US.(See article https://owlett.in/2019/05/11/the-trade-war/)

Tariffs on all remaining imports from China are also set to go up. The world markets reacted badly to this fresh outburst and stock market indices ended lower. It is expected that US consumers will be hit with higher prices due to the additional tariffs and this can lead to an increase in inflation.

How will this effect Commen people? How can global trade prosper in a more equitable way? Leave your comments below…

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