China will respond to the 10% tariffs which President Trump announced days ago.
According to Trump, China supports the production and sale of fentanyl, which China vehemently denies. Of course, the monster trade deficit of over 1 Trillion USD p.a. has been regularly mentioned by Trump.
Nevertheless, tariffs are a strong instrument that may initiate a trade war. There may be other instruments to fight trade deficits and drug abuse in the US. But maybe these tariffs will help to disrupt the today’s situation to reestablish some good equilibrium.
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