WASHINGTON (AP) So is this what a trade war looks like?
The Trump administration and Chinas leadership have imposed tens of billions of dollars in tariffs on each others goods. President Donald Trump has proposed slapping duties on, all told, up to $550 billion if China keeps retaliating and doesnt cave in to U.S. demands to scale back its aggressive industrial policies.
Until the past couple of years, tariffs had been losing favor as a tool of national trade policy. They were largely a relic of 19th and early 20th centuries that most experts viewed as mutually harmful to all nations involved. But Trump has restored tariffs to a prominent place in his self-described America First approach.