U.S. President Donald Trump and Chinese President Xi Jinping continue to impose steep tariffs in a seemingly unending series of tit-for-tat measures. If the trade war between the two economic superpowers escalates any further, the entire global economy could suffer a critical blow in addition to the U.S. and China.
Washington on Sept. 1 enacted a 15% additional tariff on $110 billion worth of Chinese products, including electronics and clothing, as part of a larger $300 billion round announced by Trump. Further penalties will take hold in October and December unless China compromises in their trade talks.
