Five months in and the trade war between the United States and China has shown no signs of abating as of late, with the White House announcing a new round of tariffs that took effect at the end of August. The steep 25% tariffs are likely to prove unpopular, and the Trump administration is already facing domestic pressure from business leaders who claim the raised cost will simply be passed on to American consumers. Beijing also reacted frostily, threatening reciprocal action. In the context of what appears to be a game of self-flagellation, this article will explore whether this trade war runs deeper than economics, and discuss possible outcomes to the ongoing stalemate.
What’s it all about?