USA Declares War on China!

Okay, a trade war, but a war nonetheless. Victor Claar writes:

…Over the weekend we learned that the United States would impose three years of import tariffs on tires made in China–beginning at an eye-popping 35 percent. In an excellent article this morning, ConsumerAffairs notes that roughly 17 percent of tires sold in the US in 2008 had been made in China.

China is not taking this affront lying down; they are hitting back. Working on Sunday, the Chinese have introduced import tariffs of their own–on US-produced auto parts and chicken products. …

… Trade wars–just like real ones–hurt people. And the collateral fallout is considerable, and rarely fully accounted for in advance. …

FYI:

Q: How many economists agree that "Tariffs and import quotas usually reduce general economic welfare?"

A: 93%. Source