What happened in the world economy this week and what it means

Shots were finally fired in the skirmish over commerce between the US and China, but fears of an all-out trade war abated as the Trump administration and Beijing indicated they’re willing to negotiate and the US even pushed for an early deal on the North American Free Trade Agreement.

The international frictions lead our wrap of the week’s major economic events.

Tit-For-Tat
 

A plethora of products from Chinese-made cars to flamethrowers are in Trump’s sights with the US allowing 60 days for public feedback on the proposed tariffs. China responded with a threat to levy an additional 25 per cent levy on