Another day, another retaliatory duty on a Chinese import. The latest is a 43-289% duty on Chinese wire decking, whatever that is. The US imported $317 mln of it in 2008.
This is gonna get ugly pretty soon unless China and the US can get around a table and sort out these festering trade disputes. China remains reliant on exports and the US is increasingly reliant on foreign funding. The constant trade bickering only highlights how unbalanced the global economy remains after the financial tidal wave of 2008.
We’re headed for a repeat performance unless these imbalances are sorted out soon.
