WP predicted the economic collapse of the United States and China due to the escalation of the trade war

Washington and Beijing are approaching economic collapse due to their unwillingness to make concessions to each other in the trade war. This was reported on April 13 by The Washington Post (WP).

"The world's two largest powers are closer than ever to complete economic collapse, as President Donald Trump and Chinese leader Xi Jinping refuse to back down in a trade war that has turned into a high—stakes game of 'who gets cold feet first,'" the publication says.

The publication also pointed out that this confrontation increases the risk of massive economic consequences and an escalation of the conflict between Washington and Beijing.

Market conventions: China and the EU may join forces in a trade war against the United States

The share of their total GDP in the global economy will reach a third in the coming years, but it is unlikely that the countries will remove all barriers.

CNBC, citing the White House, reported on April 10 that Trump had increased duties on goods from China to 145%. U.S. Vice President Jay D. Vance said Trump wants peace, but also wants fair trade and "greater self-sufficiency for the American economy."

China, in turn, has increased additional duties on goods from the United States to 125% since April 12. The Ministry of Finance of the People's Republic of China also stressed that the increase in US duties violates international trade rules and contradicts common sense.