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Assume China enjoys a trade-surplus of $200 billion with the US, and this balance continues even after trade-war.The trade-war involves both China and US imposing
Assume China enjoys a trade-surplus of $200 billion with the US, and this balance continues even after trade-war.The trade-war involves both China and US imposing a tariff of 20 percent on each other's goods and services.
In this scenario, which country's citizens will by paying more tariffs?And by how much - the total amount in US dollars? Show your arithmetic.
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