President Joe Biden announced quadrupling tariffs on imported Chinese electric vehicles to 100%, alongside tariffs on various other goods, inciting immediate protests from the Chinese government.
The trade war escalation stems from China's exploitation of the global trading system, leading to protectionist measures that could escalate tensions between the U.S. and China, while also impacting the global economy negatively.
Xi Jinping's failure to reform China's economy has exacerbated the trade conflict, making trade war almost inevitable, further intensifying political tensions and benefiting no party involved.
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