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How Biden Adopted Trump’s Trade War With China
The Daily
Consequences of Trade War Escalation
China retaliates against the US tariffs with its own, leading to a full-blown trade war between the two countries. This escalation was surprising as politicians had traditionally favored free trade over tariffs. Economists, regardless of political affiliation, mostly viewed the imposition of tariffs negatively, diverging from the low taxes and free trade principles that had been prevalent. Trump's aggressive approach to 'get a better deal' was not supported by many economists.
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