Presented by Blake Schierman
Abstract
Carrying on in his self-proclaimed crusade against trade deficits, President Donald Trump continues to bait China into an escalating trade war with the United States. With the largest devaluation of the Chinese Yuan in more than a decade, it seems he might be getting just that.
After trade negotiations began to stagnate earlier this month, Trump threatened to place a 10 percent tariff on more than $300 billion USD of imports from China starting September 1st. Adding this to the other $250 billion of products already facing a 25% levy, his new promise would result in almost the entirety of Chinese goods falling under stiff tariffs.
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