In January 2018, President Trump began to levy tariffs on Chinese imports in an effort to close a $400 billion trade deficit the U.S. has with China. A back-and-forth tariff battle has persisted over the past year and a half despite multiple efforts to come to an agreement. The latest events include a 10% U.S. tariff on an additional $300 billion of Chinese goods and China devaluing its own currency. With neither economic powerhouse willing to back down, WUVA asked Darden Professor Dennis Yang why the two countries have been unable to reach an agreement and when this disastrous trade war will come to an end.
Produced by Matt Newton and Kyra Min
Select images courtesy of The Economist, Statista, CNBC, the South China Morning Post, and the LA Times.
