U.S.-China trade dispute could push prices up, reduce growth
WASHINGTON — The world’s two biggest economies fired the opening shots Friday in a trade war that could have wide-ranging consequences for consumers, workers, companies, investors and political leaders.
The United States slapped a 25 percent tax on $34 billion worth of Chinese imports, and China is retaliating with taxes on an equal amount of U.S. products, including soybeans, pork and electric cars.
China’s commerce ministry said Washington had “ignited the biggest trade war in economic history.”
The United States accuses China of using predatory tactics in a push to supplant American technological dominance. The tactics include forcing U.S.