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June 26, 2018

World lurches closer to trade war

The world economy lurched closer to an all-out trade war as the Trump administration accused China of threatening U.S. economic interests and as the European Union made good on its threat to hit American goods with retaliatory tariffs. A scathing report, posted late Tuesday by the White House, blamed Beijing for hijacking intellectual property and pursuing destructive industrial policies, saying the nation’s spectacular economic growth “has been achieved in significant part through aggressive acts, policies and practices that fall outside of global norms and rules.” Read more

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