HINDU NOTES-JULY 7 2018 [UPSC IAS Current affairs]
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Hindu Notes from General Studies-02 Editorials are covered separately. HINDU NOTES are available free date wise| CLICK HERE China and U.S. fire first salvos in a long haul trade war. News: China joined the trade war with the United States, by announcing it was ready for a long campaign after authorities in Washington declared a 25 % additional levy on Chinese products worth $ 34 billion. Beyond News: The Chinese have retaliated in equal measure, opening the possibility of tit-for-tat tariff escalation, which could disrupt existing international network of supply chains, and slow down the global economy, which was yet to fully recover from the 2008 recession. The Chinese retaliation followed immediately after the U.S. Trade Representative (USTR) issued a note that stated that any goods that entered the country or…

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