The lasting trade dispute between the United States and China is taking an unexpected toll on American businesses and consumers, a new study by the International Monetary Fund said Thursday.
May 23 (UPI) — The lasting trade dispute between the United States and China is taking an unexpected toll on American businesses and consumers, a new study by the International Monetary Fund said Thursday.
The feud between Washington and Beijing has been going for more than a year and has been marked by periodic tariff penalties worth billions of dollars on imports and exports. The most recent, on May 10, imposed 25 percent tariffs on Chinese imports worth $200 billion a year. U. S. President Donald Trump has said the tariffs are punitive measures for multiple Chinese transgressions. The IMF analysis, however, said it appears Americans have been the ones punished the most so far.
