Read more at https://www.channelnewsasia.com/news/business/south-korea-minister-warns-of-fallout-of-us-china-trade-war-10540440
18 Jul 2018 01:18PM
Ricky Lim
US President Donald Trump has taken a confrontational "America First" stance on trade policy, imposing steep tariffs on steel and aluminum, which angered allies and prompted swift retaliation, as well as 25 per cent duties on US$34 billion of Chinese goods, with more on the way.
China has matched US tariffs dollar-for-dollar and threatened to take further measures, while US exports face retaliatory border taxes from Canada, Mexico and the European Union.
The International Monetary Fund said this week the growing trade confrontation is the "greatest near-term threat to global growth" and in the worst case could cut a half point off world GDP.
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This show Trump is totally irresponsible, reckless and dangerous.
China has matched US tariffs dollar-for-dollar and threatened to take further measures, while US exports face retaliatory border taxes from Canada, Mexico and the European Union.
The International Monetary Fund said this week the growing trade confrontation is the "greatest near-term threat to global growth" and in the worst case could cut a half point off world GDP.
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This show Trump is totally irresponsible, reckless and dangerous.
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