The Chinese have said they'd prefer to convince Washington to change course. But they also say they won't be bullied.
The trade conflicts between the US and several of its biggest partners are escalating. Among those wary of the consequences are American companies and thousands are scrambling to be made exempt from certain tariffs.
In the wake of US tariffs on steel and aluminum, the EU has made several counter moves and has now raised tariffs of its own on steel imports which exceed quotas based on current levels.
Global trade tensions have been brewing for months with tariffs and counter-tariffs flying between the US, China and several other countries. The US government has now challenged some of the tariffs at WTO level.
Since helping shape the General Agreement on Trade and Tariffs (GATT) in 1948, the World Trade Organization's forerunner, the US has been at the forefront of trade liberalization. That era appears to be ending.
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