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July 6, 2018

U.S., China vulnerable to pain from tariffs

By PAUL WISEMAN and CHRISTOPHER RUGABER
AP Economics Writers

WASHINGTON — The U.S. and Chinese governments have been flashing a lot of bravado just before firing the first shots in a conflict that risks erupting into a mutually damaging trade war.

“China will not bow in the face of threats and blackmail, nor will it be shaken in its resolve to defend global free trade,” a spokesman for Beijing's Commerce Ministry declared Thursday, one day before the two sides were to subject billions of dollars of each other's goods to punishing tariffs.


 
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