The USA – China trade war escalated this Thursday after Beijing retaliated to a $16 billion worth of levies on American goods imported in China.
Officials from both countries are meeting today in Washington to map the way forward but indications are that both parties are not willing to compromise.
Key products that have been caught up in the trade war include fuel, steel products, autos, medical equipment, motorbikes and chemicals.
Although Mr Trump states his moves are aimed at protecting the USA industry and business dozens of USA companies and industry groups have testified to the USA trade representative’s office that their business are being harmed.
Major carmakers recently warned that changes to trade policies were hurting performance as demand for their goods in china has fallen as us products are made more expensive by the addition of tariffs.