GENEVA (AN) — The head of the World Trade Organization cautioned that U.S. President Donald Trump's new round of tariffs on U.S. imports could spark a global trade war – and cut global trade by as much as 1% this year.
That possibility turned to reality on Friday when China said it will impose a 34% tariff on U.S. imports starting on April 10, matching Trump’s tariffs for China. "This practice of the U.S. is not in line with international trade rules, seriously undermines China’s legitimate rights and interests, and is a typical unilateral bullying practice," China’s finance ministry said.
