On Tuesday, U.S. President Donald Trump announced tariffs on Canada, Mexico and China. In retaliation, China announced its own tariffs on American imports.
American tariffs on imports from Canada and Mexico were also set to go into effect Tuesday before Trump agreed to a 30-day pause. Trump planned to talk with Chinese President Xi Jinping in the coming days.
This isn’t the first round of tit-for-tat actions between the two countries. In 2018, China was in an escalating trade war with the U.S. when Trump raised the prices on Chinese goods and China responded each time.
According to analysts, China is better prepared, announcing a slew of measures that go beyond tariffs and cut across different sectors of the U.S. economy. The government is also more wary of upsetting its own fragile and heavily trade-dependent economy.
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