America raised tariff on China imports

America has raised tariff on $200 billion of China imports to 25%. They threatened to impose the 25% tariff on another $200 billion of imports.

The global stock markets have recovered. The investors bet that this is a temporary situation and that a trade deal will be agreed.

The investors are likely to be mistaken. I expect that the tariffs will stay as they provide revenue to the American govt. 

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