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Trump tariffs cost China $35 billion, hurt both economies

ITN News Editor
By ITN News Editor November 6, 2019 12:47

Trump tariffs cost China $35 billion, hurt both economies

A trade war between the world’s top two economies cut U.S. imports of Chinese goods by more than a quarter, or $35 billion, in the first half of this year and also drove up prices for American consumers. Beijing and Washington have been locked in a trade feud for the past 16 months although there are hopes that an initial deal offering some relief may be signed this month. If that fails, nearly all Chinese goods imports into the United States worth more than $500 billion could be subject to tariffs. U.S. imports from China subject to tariffs fell to $95 billion between January and June compared with $130 billion during the same period of the previous year while imports of non-tariffed items were broadly stable.

ITN News Editor
By ITN News Editor November 6, 2019 12:47