The stakes rise in the Trump trade war with China…
Trump is cutting the Chinese tech giant Huawei out of world markets…
It appears China is going after Fed Ex….
It already has shut American soybean farmers out its country….
These are just the opening gambits…
Things could become a lot worst…
China announced an investigation into FedEx on Saturday, a move that comes amid an escalating trade war between Washington and Beijing.
Ahead of Chinese officials’ announcement Sunday of their formal stance on trade talks with the U.S., China opened a probe into FedEx’s “wrongful delivery of packages,” Bloomberg reported.
The move was interpreted as a warning after the White House imposed a ban on business with Chinese tech giant Huawei, according to the report.
The latest volley suggests Beijing and Washington are setting up for the long haul in what has turned out to be a bitter, months-long trade war as negotiations have collapsed.
The Trump administration raised tariffs from 10 percent to 25 percent on $200 billion of Chinese imports last month. Beijing responded by targeting $60 billion worth of U.S. agricultural exports and halting purchases of American soybeans.
China earlier this week said it would reexamine its relationship with FedEx after reports that parcels containing Huawei packages were returned by FedEx to senders. Two packages being shipped to the company in China from Japan were also reportedly diverted to the U.S. without authorization….
image…asiatimes.com