President Donald Trump two weeks ago approved a possible $50 billion tariff hike on Chinese goods such as steel and aluminum in a dispute over Beijing’s technology policy, a move that experts say would hurt many countries, including close allies like the European Union.
The spat worsened Sunday when in retaliation, China hiked tariffs on approximately $3 billion worth of U.S. goods, including fresh and dried fruits, nuts and sparkling wine. The hike matched a March 23 list of potential tariffs.