The Trade War Is Escalating Quickly

Yesterday, the Trump administration published a list of about 1,300 Chinese exports that could be targeted for 25% tariffs, and China announced it would impose tariffs on pork and ethanol. Today, the trade war has escalated again, with China announcing "new tariffs on 106 US products, including soy, cars, and chemicals."

China announced additional tariffs on 106 U.S. products on Wednesday, in a move likely to heighten global concerns of a tit-for-tat trade war between the world's biggest economies.

The effective start date for the new charges was not announced, though China's Ministry of Commerce said the tariffs are designed to target up to $50 billion of U.S. products annually.

The 25 percent levy on U.S. imports includes products such as soybeans, cars, and whiskey, Beijing said. The full list can be found here.

The move comes less than 24 hours after [Donald] Trump unveiled a list of Chinese imports that he aims to target as part of a crackdown on what he deems as unfair trade practices.

Trump is provoking this trade war with China despite the fact that farmers have warned it will devastate the agriculture sector. A 25% tariff on soybeans will devastate a huge part of the U.S. economy.

And it's a senseless provocation in the middle of tensions with North Korea, when we desperately need a solid diplomatic relationship with China.

This is so fucking stupid.