Over the last two years, president Donald Trump has raised taxes on US imports from China by more than 500%.
In 2018, these goods represented more than a fifth of everything Americans purchased abroad. The new taxes, ostensibly leverage for negotiations, seem unlikely to be lifted as discussions between Washington and Beijing turn increasingly turn sour.
So, as you might expect, people are cheating. And that “cheating” is starting to reshape the world economy.
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