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The global tariff conflict is only just beginning. A 'new war' is about to unfold in the world. This time in macroeconomic . Between the United States and China, two of the great powers.
Beijing has already responded to Donald Trump's measures. It is entering the tariff game. It has announced 15% tariffs on imports of coal and liquefied natural gas from the United States in response to Washington's additional 10% tariffs on Chinese products.
But it did not stop there. China's Ministry of Finance announced another round of tariffs, specifically 10% on imports of oil, agricultural machinery, pickup trucks and vehicles with long-displacement engines from the United States.
According to the Chinese government, all this is due to Donald Trump's "unilateral tariff increase". They argue that it "seriously violates World Trade Organization rules".
China, Mexico, Canada...
The origin of this international conflict is as a result of Trump's announcement last Saturday to impose additional tariffs of 25% on imports from Mexico and Canada, and 10% on those from China. However, the measures against Mexico and Canada were postponed for a month after negotiations with the US president.