A Devastating Trade War Shows Few Signs of Abating

“President Trump’s rapidly escalating trade war with China has resulted in eye-watering tariffs on products exchanged between the countries and scrambled prospects for many global businesses that depend on the trade. And there is no end in sight,” the New York Times reports.

“The Trump administration has been waiting for the Chinese leader, Xi Jinping, to call Mr. Trump personally, but Beijing appears wary of putting Mr. Xi in an unpredictable and potentially embarrassing situation with the U.S. president.”

“With the two governments at an impasse, businesses that rely on sourcing products from China — varying from hardware stores to toymakers — have been thrown into turmoil. The triple-digit tariff rates have forced many to halt shipments entirely.”

Politico: Forget tariffs — Beijing is already choking off US exports on the sly.