Whoever said the definition of insanity is doing the same thing over and over and expecting a different result could well have been thinking about President Trump's policy on trade with China. His tariff increases on Chinese goods have not done a thing to move China's bargaining position, but have done a lot to hurt U.S manufacturing and farmers. And he continues to double down on them.
After re-starting trade talks in Shanghai last week, Trump sprung a surprise tariff increase, raising the prices Americans pay on $300 billion of goods from China. The tariff or tax increases are scheduled to come into effect on September 1st, the same day trade talks between the two countries are scheduled to resume. With these tariff increases, all Chinese goods will be hit by Trump's trade policy.
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