The trade war with China that U.S. President Donald Trump is threatening to escalate is already hitting lobster exporters in the Northeast and benefiting their competitors in Canada.
Donald Trump has suggested China resolve ongoing tension with Hong Kong before hashing out a trade deal with the US. The remarks follow his decision earlier this week to postpone imposing further tariffs on Beijing.
It's not too late for US trading partners to decide which path to take: one based on retaliation leading to trade destruction, or a path where tariffs are reduced. The window to decide is closing, says Dennis Snower.
The US has announced a delay imposing tariffs on certain Chinese products that had been earmarked for the measure from next month. China has said the tariffs were "not a constructive way" to resolve the trade conflict.
The European Union has slapped countervailing tariffs on imports of subsidized biodiesel from Indonesia. The southeast Asian country has threatened to retaliate but experts say counter tariffs could be self-destructive.
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