💨 Abstract

The article warns that US tariffs will harm the US economy as other countries, including China, are expected to retaliate with high tariffs on American goods. China has already imposed retaliatory measures on US agriculture, food, and some fibre optic products. The Chinese government is preparing to help foreign companies in China resist external shocks. Many countries are seeking to reduce their reliance on the US by forging new trade alliances.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖