Why the U.S. and China Are Playing Nice
Taiwan
The U.S. and the People’s Republic of China are strategic rivals in the battle for global leadership in the 21st century. So it was no surprise when President Donald Trump hit China with 20% tariffs in the first few weeks of his second term and then imposed reciprocal tariffs of 34% on “ Liberation Day .” And when Trump a few days later lowered tariff rates for everyone else to calm markets, he quadrupled duties on China to a whopping 145% . But all that now feels like ancient history.
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