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A slew of recent economic policy changes coming out of the two biggest national economies this week (US, and China, respectively) are starting a new economic war (possibly threatening to splinter the whole world's economics?) Trump begins trade war, slaps high tariffs on steel and aluminum 1. March 1st: trump announces a tariff of 25% on steel and 10% aluminum Trump declares his trade war: targets steel, aluminum [axios.com / US news source] Canada seeks exemption to Trump's steel tariffs, vows retaliation [cbc.ca / Canadian] Trump's tariff announcement effect: Is a global trade war in the offing? [New Indian Express] 2. The European Union threatens to retaliate against Trump should a tariff on steel and aluminum be imposed. 3. March 3rd: Trump counters with a threat to tariff European car manufacturers [official tweet (not necessarily truthful)] China ceasing to import foreign waste note: China used to import over half the world's plastic waste, recycling it into consumer goods which were sold back to those countries 1. January 1st: China stops importing 24 classes of plastic and paper 2. March 1st: China tightens their garbage contamination rules, now stricter than the global norms sources: the Financial Times, CNN, Bloomberg, and others, via WikiTribune: China refuses ‘foreign garbage,’ leaving waste mountains in West [WikiTribune.com]
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