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Most recently, China announced new trade tariffs on $60bn of US goods, including products such as liquefied natural gas, produced in states loyal to the US President Donald Trump.

There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!" he said. US tariffs on $200bn of Chinese imports came into effect last month.

n this worst case scenario, the US economy would take a significant hit, while economic growth in China would drop below 5% in 2019, compared with a current prediction of 6.2%