The trade war escalates. China makes the first move - actually a response to the US which was the first to move on tariffs - but Donald Trump replies immediately and heavily. The American President announced yesterday evening that from October 25, US tariffs will rise from 30% to 250% on 300 billion dollars of imports of Chinese products. But that's not all: on the remaining 10 billion dollars of imports from China the duties - as previously announced - will rise from 15% to XNUMX% as early as next September XNUMXst.
The trade war between the USA and China is thus enriched by a new chapter which risks causing new damage to international trade and to the economies at the very moment in which the winds of recession are becoming more threatening.
Trump's decision is the response to China's move which yesterday, to counter the initial American decision to raise tariffs from September, communicated its intention to apply duties on 75 billion of imports of 5.078 American products, including cars. The Chinese squeeze will take place in two stages: the first from the beginning of September and the second from mid-December.
