1 Big Thing: Escalating trade war
In today's daily post, I want to put the US - China trade war front and center and ask whether it matters to growth.
The news, of course, is that US President Trump slapped tariffs on $200 billion worth of Chinese products yesterday. And, unlike in earlier rounds of the trade war, the tariff list targets consumer goods like luggage and furniture as well as industrial goods.
In the statement announcing the tariffs, Trump also warned that were China to take retaliatory action against American farmers or American industries, the US would “immediately pursue phase three, which is tariffs on approximately $267 billion of additional imports.”
On Twitter Trump said:
China has openly stated that they are actively trying to impact and change our election by att...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.