China Escalates Trade War

This is a Beijing news story, published by CNBC, that relates primarily to Donald Trump news.

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CNBC

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World

China targets U.S. services and other areas after decrying 'meaningless' tariff hikes on goods

Summary

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86% Informative

China seen by some as seeking to broaden the trade war to encompass services trade.

China last week announced it was done retaliating against U.S. President Donald Trump 's tariffs.

Beijing has rolled out a series of non-tariff restrictive measures including widening export controls of rare-earth minerals and opening antitrust probes into American companies.

Nomura estimates $24 billion could be at stake if Beijing steps up restrictions on travel to the U.S. Entertainment exports, encompassing films, music and television programs, accounted for just 6% of US . exports within this sector.

Analysts largely expect Beijing to continue deploying its arsenal of non-tariff policy tools in an effort to raise its leverage.

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