- June 20, 2022
- Posted by: Stratford Team
- Category: Economy
Bill Oxford / iStock.com
On Jan. 22, 2018, President Donald Trump approved more than $10 billion in tariffs on imported solar panels and washing machines from China. According to the Peterson Institute for International Economics, the historically rare move signaled the start of a protectionist trade policy that Trump had made central to his campaign.
China responded by placing tariffs on sorghum imported from America. In March, Trump announced new tariffs on imported steel and aluminum. In April, China issued retaliatory tariffs on fruit, nuts, pork and other U.S. imports.
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A trade war had begun.
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