Part 7/9:
Government Response: A Retaliatory Stance
In light of the escalating tariff war, the Chinese government has responded with significant countermeasures, encompassing imposed tariffs on US goods and export control lists targeting US companies. These measures are seen as a robust attempt to resist US dominance in trade. However, insights from economists portray a sobering reality: navigating the consequences of such intense economic confrontation requires painful compromises and significant shifts in strategy.