Worsening relations with China, the United States just hit China with a new wave of extremely high tariffs. Around $18 billion worth of Chinese goods will be affected, but the White House deems the tariffs necessary to help American industry.
All of these tariffs will cause prices to rise for the already struggling consumer.
China will retaliate and mark up American goods, but worse, they will continue offloading their purchases of US Treasuries.
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