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The truce in the US-China trade war is in tatters.
China said on May 13 that it will impose new tariffs on a range of American goods in retaliation for President Donald Trump’s decision to raise duties on $200 billion in Chinese imports.
Although trade talks may continue, for now the trade war that Trump began in January 2018 is back on, which will mean more economic pain for companies and consumers in both the US and China.
As an economist who focuses on international trade, I believe there are three reasons the conflict
