English Typing
Paragraph
The
trade
wars
have
finally
begun.
After
exchanging
several
threats
over
the
last
few
months,
both
the
United
States
and
China
implemented
a
tariff
of
25%
on
imports
worth
$34
billion
last
Friday.
This
marks
the
official
beginning
of
what
China
dubs
as
"the
biggest
trade
war
in
economic
history".
While
this
trade
war
is
far
from
the
biggest
the
world
has
seen,
it
has
the
potential
to
cause
some
significant
damage
to
the
world
economy.
U.S.
President
Donald
Trump,
who
began
the
year
by
imposing
tariffs
on
imported
solar
panels
and
washing
machines,
has
vowed
to
possibly
tax
all
Chinese
imports
into
the
U.S.,
which
last
year
added
up
to
a
little
over
$500
billion.
Mr.
Trump's
tariffs
against
China
will
likely
resonate
with
voters
who
believe
in
his
"America
First"
campaign
and
perceive
the
trade
deficit
with
China
as
a
loss
to
the
U.S.
economy.
China,
not
surprisingly,
has
responded
by
targeting
American
exports
like
soybean
and
automobiles,
a
move
that
could
cause
job
losses
in
American
states
that
accommodate
Mr.
Trump's
voter
base.
Other
major
U.S.
trading
partners
such
as
the
European
Union,
Mexico,
and
Canada
have
also
slapped
retaliatory
tariffs
on
various
U.S.
goods.
In
a
globalised
world,
no
country
can
hope
to
impose
tariffs
without
affecting
its
own
economic
interests.
Apart
from
disadvantaging
its
consumers,
who
will
have
to
pay
higher
prices
for
certain
goods,
tariffs
will
also
disrupt
the
supply
chain
of
producers
who
rely
on
foreign
imports.
So
both
the
U.S.
and
China,
which
have
blamed
each
other
for
the
ongoing
trade
war,
are
doing
no
good
to
their
own
economic
fortunes
by
engaging
in
this
tit-for-tat
tariff
battle.
The
minutes
of
the
U.S.
Federal
Reserve
June
policy
meeting
show
that
economic
uncertainty
due
to
the
trade
war
is
already
affecting
private
investment
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