Donald Trump explained it this way: 'You come and ask me for something, but you ask without respect..
Given the lack of respect that China has shown towards global markets, I hereby raise the tariff charged on China by the United States of America to 125%, effective immediately.
In response, China took measures:
- raised tariffs on US goods to 84%, and also to 125%
- imposed sanctions against 18 major American companies
- restricted the import of films from the USA
- intensified diplomatic efforts to strengthen economic ties with the EU, ASEAN
The Chinese Ministry of Foreign Affairs stated that China is ready to fight to the end.
Who do you think will be worse off from this trade war?
