A nation must think before it acts.
FPRI’s Jacques deLisle Featured on Knowledge@Wharton
The recent trade skirmishes between the U.S. and China escalated yesterday with the Trump administration levying tariffs on an additional $200 billion worth of imports from China. The 10% tariffs will apply from August 30 to a long list of products including seafood, home appliances, industrial components and phone accessories, but excluding mobile phones. In what many are calling an all-out war, the latest action comes on top of the U.S. levying tariffs on $34 billion worth of imports from China earlier this month and the latter immediately responding with eye-for-an-eye tariffs on imports from the U.S. The U.S. had also slapped import levies in January on solar panels and washing machines, and in March on steel and aluminum. They triggered retaliatory tariffs on U.S. exports from its NAFTA partners Canada and Mexico, and from the European Union.