From next week, the US will be slapping tariffs on its steel and aluminium imports from abroad. But could this lead to retaliatory measures? Fears are growing of a trade war.
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.
US officials have revealed a list of Chinese goods they will be targeting with 10 percent tariffs, raising fears of an escalating trade war. US retailers have slammed the decision, as has China itself.
Trade frictions between the US and China are getting worse again with a fresh round of tariffs. Yet it's not just about trade, but something more fundamental, says economist Thomas Straubhaar.
Despite reciprocal tariffs being imposed by the US, China and the EU, many economists think there is still only the threat of an all-out trade war. So what happens if tensions escalate further?
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