Commentary
On June 15, 2018, the U.S. government released a list of Chinese imports subject to additional tariffs, imposing an additional 25 percent duty on approximately $50 billion worth of Chinese goods. In retaliation, on June 16, the Chinese Communist Party (CCP) announced that it would impose 25 percent tariffs on 659 types of U.S. goods, worth roughly $50 billion. The two sides formally started a trade war and a deteriorating relationship. Tensions have intensified following the Hong Kong turmoil and the CCP virus and finally led to the all-out cold war between the United States and China.
