Tech Wars: U.S.-China Rivalry Intensifies as Tariffs Soar

U.S. President Donald Trump and Chinese leader Xi Jinping have fired the first shots of a new trade war with an exchange of hard-hitting tariffs that could have far-reaching consequences for the U.S.-China rivalry. The tit-for-tat levies are a revival of the two years of trade tensions during Trump's first term in the White House, and they, once again, could bring economic pain to China. But unlike that first episode fought between Beijing and Washington, Xi now comes into the second trade war with more cards to play. This could open up new opportunities…