The two governments have imposed 25 per cent tariffs on $50 billion of each other’s goods. More companies say they will suffer if Trump goes ahead with his planned tariff hike and Beijing retaliates, according to the American Chambers of Commerce in China and in Shanghai. In addition to retaliatory tariffs, companies report China is slowing down customs clearances and stepping up inspections and other bureaucratic processes, the chambers said. The chairman of the American Chamber of Commerce in China warned the Trump administration might be underestimating China’s resolve to fight back. China has tried without success to recruit Germany, France, South Korea and other governments as allies against Washington.

Source: National Post September 13, 2018 01:20 UTC