- The US-China trade war has dramatically escalated over the past few days, with both sides announcing tariff increases on billions of dollars’ worth of each other’s goods.
- Chinese state media — which functions as a Communist Party mouthpiece — issued a series of rabble-rousing statements on Monday accusing the US of “greed and arrogance” and calling for a “people’s war” against it.
- President Donald Trump’s administration on Monday night threatened to impose tariffs of up to 25% on another $300 billion worth of Chinese goods.
- If such tariffs were to be imposed, almost all Chinese imports to the US would be subject to tariffs.
- Trump tweeted on Tuesday that his “respect and friendship” with Chinese President Xi Jinping was “unlimited” but that “this must be a great deal for the United States or it just doesn’t make any sense.