Here’s a look at why the US, which first raised tariffs on steel and aluminium, is taking an aggressive stance on trade.
By ET Bureau | Updated:
ET Explains: Is US-China trade war merely a battle of egos?
By Ravi Seth
With US President Donald Trump turning his attention to correcting the country’s trade imbalance, talks of a trade war are gaining ground. In a trade war, countries raise duties or taxes or slap quantitative curbs on each other’s goods. This tit-for-tat could temporarily benefit those nations with trade deficits, but usually ends up hurting both sides in the long run and possibly creating a rift in relations. The US and China have both announced tariffs on each other’s goods. Here’s a look at why the US, which first raised tariffs on steel and aluminium, and then specifically on $60 billion worth of Chinese imports, is taking an aggressive stance on trade:
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