Trade wars are dominating the global economy in what Alibaba’s Jack Ma believes could last 20 years as the world’s two strongest economic powers continue to fight for global supremacy. In mid-September, Donald Trump imposed a new 10% tariff on over 5000 products from China. With the possibility of these tariffs increasing to 25%. Currently these tariffs are equivalent to over $200 billion worth of exports from China to the US. China have since retaliated with 5-10% tariffs on $60 billion worth of US imports. This clearly aggravates trade war tensions and any prospects of further peaceful trade negotiations. It is interesting to note that the White House excluded the likes of Apple and Fitbit products from the list of taxable products.
