May 13, 2019
How long will the trade war with China last?
The U.S. has raised tariffs on Chinese goods, and now China has retaliated.
A container ship unloads its cargo at the main port terminal in Long Beach, California, on May 10. China warned on May 13 that it will "never surrender to external pressure" after the United States ordered tariffs on almost all Chinese exports.
MARK RALSTON/AFP/Getty Images
Today, China announced it will raise tariffs on $60 billion worth of American goods. This follows President Donald Trump’s increase of tariffs on $200 billion worth of Chinese goods on Friday. With this latest escalation in the trade war, the United States and China have assumed more entrenched positions. The one-upmanship complicates what was already a delicate, geo-political relationship. By some accounts, we may have begun a chapter of turbulent trade relations with China that could last a decade. Is this the new normal?