BEIJING/WASHINGTON ¨C With U.S. President Donald Trump gearing up to impose tariffs on $200 billion in Chinese goods and Beijing certain to retaliate against any such measures, the world¡¯s two biggest economies are locked in an escalating trade war, with no resolution in sight.
The United States is negotiating with Canada this week to try and finalize a deal to modernize the North American Free Trade Agreement, an outcome some in the White House say will allow Washington to turn up the heat on Beijing.
¡°The hope is that this (NAFTA) puts a lot of pressure on the Chinas of the world to help us negotiate better reciprocal trade deals,¡± Kevin Hassett, chair of the White House Council of Economic Advisers, said.
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