China May Hit US Where It Hurts Amid Trump's Tariff War — Services Trade In Crosshairs, With Walt Disney, IMAX And Warner Bros. Discovery In Focus
Benzinga (Wed, 09-Apr 7:28 AM)
As Washington doubles down on its trade war with China, and tariffs now going as high as 104%, some leading experts believe that the Middle Kingdom might have an ace up its sleeve, that could hit the United States where it hurts most—Services.
A vast majority of U.S. imports from China are tangible goods, whereas its exports to the country largely comprise services, and this includes tech solutions, consulting services, law firms, and even Hollywood movies, among others. China, in fact, runs a $32 billion deficit with the U.S. on services.
What Happened: Two widely followed bloggers in China with connections within the Chinese Communist Party have released a seemingly identical list of measures that the country is planning in retaliation against the tariffs imposed by the Trump Administration, reported Bloomberg.
Among the list of measures shared by Ren Yi, the grandson of a ...
