The latest flare-up in the US-China trade war, heralded by what we now expect as the norm by way of a tweet from US president Donald Trump, was as unexpected as it was pointless.
Businesses across the US are being disrupted; US consumers are already paying more for their goods from the earlier round of tit-for-tat tariff increases; and now the weekend marked a further escalation.
US importers now face higher costs; US manufacturers in China face challenges in getting their goods back to their home market; while Chinese exporters have to pay a 25% tariff on good sold to US buyers.
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