Cherry picking: China looks to replace US farm goods in trade war

Simmering trade tensions between the world's top two economies are set to erupt into a full-blown trade war Friday, with Washington poised to impose new tariffs on $34 billion in Chinese goods. Beijing has pledged to hit back dollar for dollar, placing a new tax on American goods like cherries, soybeans, autos, pork and whiskey, putting them at a disadvantage to their global rivals. Washington's list is heavy on tech goods, aiming in part to shift supply chains away from China, while Beijing has put politically sensitive US farm goods in the firing line.

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July 04, 2018 at 01:06PM