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Catherine Rampell: China will learn its lesson. Just not the one Trump wants.

Even without tariffs, the Chinese government can make life very, very difficult for the many U.S. firms that do business there.

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, July 13, 2018. Asian stock markets were mostly higher on Friday rebounding from jitters over the U.S.-China trade disputes for a second straight day. (AP Photo/Ahn Young-joon)