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The limits of protectionism
04 April 2018
Last night the US government announced details of a USD 50bn package of tariffs on Chinese imports. Today China responded by announcing tariffs matching the size of US tariffs, targeting areas of maximum pain for Trump, such as soy, corn and aircraft. Further details are likely to emerge in the coming days and weeks. Trump’s trade war with China is on, but how far will this trade war go?