Why is the US-China trade dispute raging year after year? The two countries are so interconnected, competing on several fronts while cooperating on others. Although the trade war has escalated in recent months, it will most likely continue to be a delicate balancing act, a delicate one, as globalism continues to march. This is not the first time that the US and China have faced disagreements.
On the bilateral front, Tanzania and China Merchant Holdings International reached an impasse over the $11 billion Bagamoyo Megaport Project. The Chinese side pushed a hard bargain, demanding zero duty on imported material, and a commitment from Tanzania to not develop other ports. The two countries have also tried to agree on tax breaks for investors in the proposed special economic zone.
This impasse stems from the $11 billion Bagamoyo Megaport Project, which the two sides fought over for years. They tried to force Tanzania to cut a deal by offering zero duty on imported materials, as well as a promise not to develop any other ports. They also sought tax breaks for investors in the proposed special economic zone. Neither side wanted to give out concessions that would hurt their economies.