US-China trade entering tit-for-tat tariffs – Portuguese economy grew 2.7% in 2017
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.
China's economic growth slowed in the second quarter, adding to the many challenges Beijing faces amid a mounting tariff battle with Washington and weakened global demand for its exports.
The US Federal Reserve says US business owners are already scaling back investment plans on the back of concerns over the escalating trade conflict with China. Nonetheless, the US economy is in good shape, it says.
For months, talk of a trade war between the United States and China has been rampant. That talk became reality overnight when major US tariffs against Chinese goods came into effect.
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