{"id":7131,"date":"2019-02-05T05:21:02","date_gmt":"2019-02-05T05:21:02","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/us-china-trade-war-un-warns-of-massive-impact-of-tariff-hike\/"},"modified":"2019-02-05T05:21:02","modified_gmt":"2019-02-05T05:21:02","slug":"us-china-trade-war-un-warns-of-massive-impact-of-tariff-hike","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/us-china-trade-war-un-warns-of-massive-impact-of-tariff-hike\/","title":{"rendered":"US-China trade war: UN warns of ‘massive’ impact of tariff hike"},"content":{"rendered":"\n
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The head of a UN trade panel has warned a US plan to raise tariffs on Chinese goods next month would have “massive” implications for the global economy.<\/p>\n

The US plans to increase tariffs on Chinese goods if the two sides fail to make progress on a trade deal by 1 March. <\/p>\n

The report also said US and Chinese firms won’t benefit greatly from the protectionist policies. <\/p>\n

It added that Asian countries are likely to suffer the greatest impact. <\/p>\n

The US and China are locked in a damaging trade dispute that has seen both sides levy tariffs on billions of dollars worth of one another’s goods. <\/p>\n

In December, both countries agreed to hold off on new tariffs for 90 days to allow for talks.<\/p>\n

The US and China have a deadline of 1 March to strike a deal, or the US has said it will increase tariff rates on $200bn (\u00a3152bn) worth of Chinese goods from 10% to 25%.<\/p>\n