March 27th, 2018 | By Landry Signe
The United States and China are acting tough over trade, but they’re also busy talking to try to stop the situation spiraling out of control.
President Donald Trump ramped up tensions last week by ordering tariffs on about $50 billion worth of Chinese goods just weeks after announcing of sanctions on steel and aluminum imports. Beijing has responded with plans to target $3 billion worth of US products and warnings that it’s ready to inflict more pain.
The moves have fueled fears that the situation could escalate into a full-blown trade war between the world’s two largest economies. But Treasury Secretary Steven Mnuchin said Sunday that he’s been talking to Chinese officials in an effort to prevent that.
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