In a further escalation of the ongoing trade war between the U.S. and China, the Trump administration is preparing to announce 10% tariffs on an additional $200 billion worth of Chinese exports to the US, including a variety of consumer goods. The full list of goods on which the tariffs will be imposed is likely to be released later this week or early next week.
The following article by John Ross, examining the significance of Donald Trump’s election for world trade, was previously published by Socialist Economic Bulletin.
Trump’s election as US President means 2016 is ending with a stark public contrast between the positions of China and the US on global trade. The US has its first president proclaiming support for protectionism since World War II, while China states its support for increased international trade and economic globalisation.