On 10 May, 2019, the Trump administration raised tariffs on USD 200 billion worth of imports from China. This escalation of events caught observers by surprise. The Chinese side has retaliated with tariffs on American goods. With these developments, the trade dispute devolving into an economic war of attrition between the two behemoths is now a possible outcome.
On 10 May, 2019, the Trump administration raised tariffs on USD 200 billion worth of imports from China. This escalation caught entrepreneurs and policymakers by surprise. The ratcheting up of the tariff rates from 10% to 25%