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The standoff between the world's two largest economies looks unlikely to end anytime soon. US President Trump is pressing ahead with tariffs on another $200bn of Chinese imports, prompting Beijing to retaliate with levies on $60bn of US goods. Irwin Stelzer, senior fellow and director of Hudson Institute's Economic Policy Studies Group, said American consumers are likely to bear the brunt of the escalating trade war. (Photo credit: Thomas Peter-Pool/Getty Images)