The ongoing trade war between the United States and China has been escalating and shows no signs of slowing down anytime soon.
Media outlets have been misleading when they suggest that the two countries are on the brink of a trade war; in reality, they have already crossed that threshold and are deeply involved in a full-fledged trade war that is expected to intensify further.
The conflict between the two economic powerhouses has been building for several years, with former President Donald Trump imposing tariffs on Chinese imports in an attempt to address unfair trade practices. Despite the change in administration, President Biden has maintained these tariffs, with U.S. Trade Representative Katherine Tai emphasizing their importance in dealing with Beijing.
In response to U.S. actions, China has imposed tariffs on American-made chemicals, such as propionic acid, as a retaliatory measure. This tit-for-tat escalation of tariffs and trade penalties is likely to continue in the coming months.
While Beijing may be playing from a weaker hand in this trade war, Washington has the support of allies such as the European Union, Japan, and the United Kingdom, who have also expressed concerns about Chinese trade practices and are considering their own tariffs and measures against China.
Overall, the situation between the United States and China remains tense, with both sides showing no signs of backing down in their trade dispute.
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