Trade tensions between the US and China have once again flared up. President Donald Trump has said that he will more than double tariffs on $200 billion worth of US imports from China, from 10 per cent to 25 per cent, and might further target another $325 billion of imports with 25 per cent tariffs.
Mr Trump has long argued that tariffs on Chinese imports are too low and he reiterated that point on Twitter, saying that China was now paying billions into the US treasury because of tariffs. This is, of course, not quite correct — tariffs are paid by importing companies at the border. ...
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