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By succumbing to domestic pressures, America has started an alarming trade row with China.
IN RAW economic terms Barack Obama’s imposition of tariffs on Chinese tyres hardly registers. The number of jobs affected is barely a rounding error in measurements of the mighty American workforce. The cost to consumers is also slight. But in geopolitical terms, it is a whopper. Mr Obama’s most overtly protectionist decision so far has triggered a predictably angry reaction from China...
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Source: The Economists