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US-China trade war latest: What has happened in Donald Trump's trade war so far?

October 3, 2018 9:49 PM
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EXCLUSIVE: The US-China trade war started at the beginning of 2018 after the US imposed tariffs on laundry machines and solar panels coming from China and since then, the economic war has intensified rapidly. So what has happened so far?

When Donald Trump won the US election in 2016 the President vowed to make trade fairer for Us citizens.

Since then, Trump has started a war with some of America’s oldest trading partners, including superpower China.

The countries are regarded as the two biggest economics worldwide for global influence and China has since accused the US of launching the "largest trade war in economic history."

In an exclusive interview with Express.co.uk, Professor of Business Economics at Brunel University London Francesco Moscone explains what has happened in the economic war so far.

Prof Moscone said: “The economic war started at the beginning of 2018 when the US imposed tariffs on laundry machines and solar panels coming from China.

“Despite several meetings between the power rivals to come to an agreement, the US recently imposed higher tariff rates of billions worth of Chinese imports.”

After the first two rounds tariffs were imposed on $50 billion worth of goods from China.

But in the third round, which took effect on September 24, tariffs were imposed on goods worth $200 billion alone, totalling $250 billion worth of goods since the war started.

China hit back at the United States, announcing it would impose tariffs on up to $60 millions worth of US goods.

Prof Moscone said: “The tariffs are likely to increase even further, with the expectation that the yuan will be to its weakest against the dollar in more than a decade.

Source: express.co.uk

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