This comes in addition to tariffs on approximately $53 billion of Chinese goods. China retaliated with tariffs on $53 billion of US goods.
The U.S. is particularly fearful of Beijing’s “Made in China 2025” initiative, which will see the country’s industry upgraded to produce high-tech, value-added goods, enabling the country to take on flagship U.S. firms like Apple and Hewlett-Packard.
BEIJING – The United States’ ongoing attempts to wage a trade war on China will likely fail in terms of scuttling the growing East Asian economy’s hopes to improve its manufacturing base, yet many fear that the ongoing trade war between the two will derail world economic growth and ultimately harm all parties involved. Such has been the