US and allies can't exclude China from world trade

The tariff war the United States initiated with China has been continuously escalated by the Trump administration.

On Aug 2, the US government threatened to raise the previously proposed tariffs on $200 billion worth of imports from China from 10 percent to 25 percent. It had already slapped 25 percent tariffs on Chinese goods worth $34 billion, and 25 percent tariffs on $16 billion worth of Chinese imports are expected to take effect soon.

While ratcheting up the pressure on China, US President Donald Trump has also talked with President of the European Commission Jean-Claude Juncker and they reached a consensus on suspending the tariff exchanges between the US and the European Union and agreed to lower trade barriers between the two sides through negotiations. And earlier, the EU and Japan signed their Economic Partnership Agreement, according to which the two sides will exempt nearly 99 percent tariffs on imports from each other.