Chinese factory owners are now furloughing and laying off workers as shipments begin piling up at ports. White House officials believe they have the upper hand in the fight, arguing the debtor

Trump’s escalation sent financial markets tumbling and left U.S. retailers warning that they might run out of goods as U.S.-China trade implodes. U.S. consumers, worried about the prospect of empty shelves and higher prices, are losing confidence in the economy.

President Donald Trump suggested that tariffs on Chinese goods should be slashed to 80%.The rate would still be high but would be a dramatic reduction from the 145% the US has imposed.Just two days ago,