business
President Trump's Trade War?
Jul 9, 2018 at 01:29 PM
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The Quick Facts

  • On Friday, July 6, the tariffs on Chinese imports proposed by the Trump Administration went into effect.
  • The tariffs equate to a 25% tax on over 818 imported Chinese products, worth around $34 billion a year in imports.
  • The administration originally proposed the tariffs in April, and in mid-June the White House announced the list of Chinese products targeted. 
  • Once the tariffs went into effect, China immediately imposed retaliatory tariffs on $34 billion worth of American imports. The products targeted by China include cars, airplanes, soybeans, and whiskey.
  • China’s Ministry of Commerce also released an official statement on Friday in response to the United States’ original tariffs, stating: “The United States violated the World Trade Organization [WTO] rules and launched the largest trade war in economic history to date.”

Food For Thought

Has the United States started an official trade war with China? How will the economic repercussions affect Americans and the global trade market?

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