US President Donald Trump has threatened China with a 104 per cent tariff, if Beijing doesn’t drop its 34 per cent tariff on US goods.
President Trump announced the plan on social media, as stock markets across the world continued to plummet.
What’s next?
Beijing has not yet commented on the president’s threat.
Even if that did happen, the next step is keeping the prices of goods made in the US cost competitive. Wages in the US are far higher, so everything would STILL cost more.