Donald Trump’s trade war with China is escalating, and fast. To briefly recap this week’s plot developments:
On Monday, the White House announced that it would place tariffs on an additional $200 billion worth of Chinese imports, on top of the $50 billion it has already hit.
Incensed, officials in Beijing to vowed to retaliate with tariffs of their own and hinted that they might cancel a planned round of trade negotiations.
Our president then warned that if the Chinese retaliated, he’d hit another $267 billion of the country’s goods with tariffs. “We don’t want to do it, but we’ll probably have no choice,” Trump said, a bit unconvincingly (he clearly wants to do it).
And to think, it’s only Wednesday.
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