In taking aim at the “Made in China 2025” initiative, Trump is attempting to undercut Beijing’s effort to catapult the country into a leadership role in industries like IT, robotics, aerospace, rail, new-energy vehicles, bio-medical and (somewhat separately), AI.
Clearly, any effort to stymie that from Trump would invite retaliatory measures, raising the trade stakes even further, and putting the focus even more squarely on tech, etc. etc.
That's what we said on Tuesday evening after the USTR published the list of products subject to the tariffs announced last month in connection with the Trump administration's 301 probe.
Well if you were hoping this situation wouldn't deteriorate further, you're going to be disappointed because China has decided to hit the U.S. with $50 billion in tit-for-tat tariffs and unlike the measly $3 billion in duties Beijing slapped on imports in response to the steel and aluminum levies (those went into effect on Monday), this time they aren't playing around. China is now going to apply 25% reciprocal tariffs on 106 U.S. products and that includes soybean, cars, planes and chemicals.
"China’s response was tougher than what the market was exp
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