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As the U.S.-China trade war drags on, here’s what it means for you

August 6, 2019

The latest exchanges between the United States and China over tariffs and currency made clear that trade tensions between the world’s largest economies aren’t going away anytime soon.

In the span of a few days, President Trump said he would soon impose 10 percent tariffs on $300 billion in Chinese goods; Beijing allowed its currency to weaken to an 11-year-low; and the United States fired back by labeling China a “currency manipulator.” Rattled investors sent stock markets deep into negative territory, rushing to gold, bonds and other safe havens.

The headlines may seem theoretical, but if the dispute drags on, there are real-life ramifications for workers’ wallets, including their savings, debt loads and spending power.