Source: International Business Times
Trade between the world's two largest economies has skidded to a nearly complete halt since US President Donald Trump slapped China with levies of 145 percent AFP A formidable set of cards that includes granting access to its vast market and an ability to withstand economic pain will allow Beijing to play hardball in upcoming trade talks with the United States in Geneva, analysts say. Trade between the world's two largest economies has nearly skidded to a halt since US President Donald Trump slapped China with various rounds of levies that began as retaliation for Beijing's alleged role in a devastating fentanyl crisis. With additional measures justified by Trump as efforts to rebalance the trade relationship and prevent the United States from being "ripped off", tariffs on many Chinese products now reach as high as 145 percent -- with cumulative duties on some goods soaring to a staggering 245 percent.
