No matter how he spins it, the U.S. president has been revealed as vulnerable — and the U.S. lost something it may never get back.
Tag: import tariffs
Donald Trump has threatened to slap an additional 50% in tariffs on China if Beijing doesn’t roll back its retaliatory measures by Tuesday. But with so much at stake, it’s unlikely China will yield to the U.S. president’s ultimatum — risking a steep and dangerous escalation that can bring the global economy down with it.
In China, sales of electric cars, consumer goods and industrial products are stalling. State-owned companies have built up excess capacity. The new plan is to flood the European market with the products. The first signs are appearing in Germany.