Why Trump's attempt to pressure China with ever-rising tariffs may backfire

Many U.S. trade partners have scrambled to offer concessions in exchange for lower U.S. tariffs, but ot China, which not only has not sought negotiations but has matched Trump tariff for tariff.

HONG KONG — Faced with steep tariffs slapped on their goods by President Donald Trump, many U.S. trade partners have scrambled to offer concessions in exchange for lower rates, making frantic calls to the White House and rushing officials to Washington.

But not China, which not only has not sought negotiations but has matched Trump tariff for tariff.

On Friday, Beijing said its total levy on U.S. goods would increase to 125%, equaling the combined tariffs Trump has imposed on China since he announced duties on a wide range of countries at his “Liberation Day” event at the White House last week.

The spiraling trade war between the U.S. and China, the two biggest economies, has implications for the whole world, sending global markets convulsing in the past week.

https://www.nbcnews.com/news/world/trumps-china-tariffs-backfire-pressure-rcna200803

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