Sky-high US-China tariffs are a mutual trade embargo that will hurt both sides

Heightened tariffs between the US and China have created a de facto trade embargo, which could push the US into recession and further weaken China’s already fragile economy. Trump’s indication that exemptions on electronics and smartphones will be temporary adds urgency to the situation, as America’s $150 billion exports to China are expected to decline sharply. Meanwhile, China’s $440 billion exports to the US could plummet by up to 75% in the next 18 months without negotiations, suggesting widespread economic repercussions for both nations.

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