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Trade war

Year one in US-China trade war takes $20bn toll on their exports

Tariffs transform global supply chains as businesses prepare for protracted clash

U.S. President Donald Trump attends a bilateral meeting with China's President Xi Jinping during the G20 leaders summit in Japan on June 29.   © Reuters

TOKYO -- With no end in sight to a yearlong Sino-American trade war that has dragged down each country's exports to the other by roughly $20 billion so far, U.S. and Chinese companies are realigning supply chains and setting the stage for potentially huge shifts in the global trade landscape.

The trade conflict began July 6 of last year, when the U.S. started the cycle with a 25% charge on 818 Chinese imports. This led to a chain of retaliations by China and further punitive tariffs imposed by the U.S.  Although the two sides have resumed talks, they appear to be still far apart on key issues.

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