Trump is threatening to raise tariffs again. Here's how China plans to fight back [Los Angeles Times (CA)]
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Source: Los Angeles Times
He has not offered many specifics, but China is already arming itself for economic battle. “Six years of really intense, focused preparatory work has gotten the top leaders in Beijing ready to deal with whatever comes down the pike,” said Even Pay, an analyst with research firm Trivium China. Here's a look at how the showdown between the world's two largest economies played out the last time Trump was in office and where things might be headed now. What happened during Trump's first term? Trump kicked off a trade war in 2018 by imposing 25% tariffs on imports from China — including industrial machinery, cars, auto parts and television cameras. Those goods accounted for about $50 billion of the $540 billion the United States spent that year on Chinese-made products. The aim was to spur U.S. manufacturing, reduce a trade imbalance and punish China for trade practices Trump said were unfair. China imported just $120 billion in U.S. goods in 2018. China responded with its own
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