The U.S. and China have fired the opening shots of a trade war. It is hard to see their moves as anything other than reckless acts that endanger the global economy. The two countries should immediately reverse course on their punitive and retaliatory measures and ease tensions through dialogue.
Washington has imposed a hefty 25% tariff on $34 billion worth of imported Chinese goods in reaction to alleged intellectual property violations. Beijing responded by setting in motion reciprocal tariffs of the same scale and rate, making the possibility of a collision between the world's two largest economies a reality.