New story in Business from Time: There’s a Real Risk That Trump’s Trade War With China Won’t Change Anything

To quote Will Ferrell in the hit movie Anchorman, “Boy, that escalated quickly.” On Friday, China’s Commerce Ministry said it would fight “at any cost” new $100 billion tariffs proposed by U.S. President Donald Trump, indicating Beijing’s resolve to respond in kind to punitive measures Washington has threatened for alleged Chinese intellectual property (IP) theft. …

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