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Trump’s 60% tariffs will ‘backfire’ on US and drive up prices, China warns

Summary by Alabama Live
Higher tariffs on Chinese exports will backfire, just increasing prices paid by consumers, while China can manage to weather the impact of such “external shocks,” a senior Commerce Ministry official said Friday in Beijing.Responding to a reporter’s question about U.S. President-elect Donald Trump’s plan to impose 60% tariffs on imports from China, Vice Commerce Minister Wang Shouwen said that would “not solve the country’s own trade deficit prob…
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