A trade war between the United States and China has been erupting over the past few days and it’s escalating rapidly as each day passes and more and more tariffs are proposed. US President Donald Trump introduced a $50 billion tariff on Chinese goods the other day, so then, in response, the Chinese government introduced a $50 billion tariff on US goods.
Trump saw that as an “unfair retaliation” on China’s part, so yesterday, he proposed an addition tariff of $100 billion. China is furious about that, as its commerce chief has called the proposal “ridiculous” and called it a prime example of the “deep arrogance” that America shows towards their country, which is essentially the cause of this whole trade war.
Last month, the US President was quoted as saying, “Trade wars are good, and easy to win.” So, let’s see him win this one.
‘Trade wars are good,’ says Trump
Trump’s attitude towards the trade war with the Chinese government is basically that the US already has a massive $500 billion Trade Deficit, so it doesn’t matter. He tweeted, “When you’re already $500 billion DOWN, you can’t lose!” This is a great way of running things. He’s basically saying that the US is already massively in debt, so screw it.
