No pain no gain could never be truer
President Trump is once again ratcheting up the pressure on China in ongoing trade disputes between the world’s two largest economies.
Trump claims China crawfished on the trade deal his representatives had been negotiating over the last few months.
As a result, 25 percent tariffs are to be placed on $200 billion of Chinese goods. If the new tariffs are actually enacted and collected upon, the U.S. Treasury should be $50 billion richer.
China’s President Xi Jinping is likely not very happy with Russian President Vladimir Putin for allegedly rigging the 2016 presidential election in favor of Trump.
The Chinese are responding by placing 25 percent tariffs on $60 billion worth of U.S. goods. As usual, the biggest Chinese target is U.S. agricultural goods.
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