This is an opinion piece but the information is true imo.
China is winning the trade war Trump started
Quote:
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You can see it in the economic numbers: China’s economy grew by an average of 5.3 percent in the first half of the year, America’s by only 1.25 percent. You can see it, too, in Trump’s failure to wring significant concessions from Beijing. Though most countries have acquiesced to U.S. trade bullying, China has not. In April, Trump hiked U.S. tariffs on Chinese goods to 145 percent. China retaliated with 125 percent tariffs on U.S. goods. Then President Xi Jinping ramped up the pressure by restricting exports of rare earth metals to the United States, which threatens to halt production of cars, fighter jets and other products.
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To me the tariff war has led to increased unemployment in the US, inflation from tariffs which is also an indirect tax on goods which could become permanent just like the previous tariff Trump introduced on China which Biden kept in place. And today I found out that some of our customers have supply shortages (semi conductor devices that are mostly sourced from China).
https://www.washingtonpost.com/opini...s-china-trade/