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Tit-For-Tat Becomes the Norm as U.S., China Dig In for Trade War

  • China releases list of $60 billion in U.S. goods to hit
  • Trump says tariffs working ‘better than anyone’ expected
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Trump defended his tariffs that have inflamed tensions with China and Europe. Bloomberg’s Tom Mackenzie reports.(Source: Bloomberg)
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The trade war between the world’s two biggest economies is taking on a life of its own.

When President Donald Trump first threatened to slap tariffs on Chinese goods in March to punish Beijing for stealing American intellectual property, trade experts warned the two nations risked slipping into a downward spiral of tit-for-tat trade actions. The global economy now appears to be living that reality, with the trade war settling into a regular rhythm of counterblows.