“We do seem to be entering a trade war,” said Eswar Prasad, a senior professor of trade policy at Cornell University. “I hope this will not spiral into a very broad set of sanctions on both sides,” Mr. Prasad added. China’s ambassador to Washington, Cui Tiankai, said on Thursday that Beijing would retaliate against those tariffs on about $60 billion of Chinese goods. “If somebody tries to impose a trade war upon us, we will fight. Much pork is produced in Nebraska and elsewhere in the Midwest, where Mr. Trump has strong support.

Source: New York Times March 23, 2018 02:17 UTC