China-U.S. trade tussle may get worse

The Clash of the Titans. The Rumble in the Jungle. War of the Roses.

None of these tried-and-true cliches properly captures the potential havoc on the world's economy that a trade war between the U.S. and China could have as one of the world's greatest consumer is pitted against the world's top manufacturer (of most consumer goods). The latest kerfuffle is over tires.

Late Friday, President Barack Obama said the U.S. would levy tariffs of up to 35 percent on Chinese tires. The Chinese government issued what the New York Times called a "formulaic" response to the criticism. Anti-American rheortic -- no doubt planned -- then heated up on Chinese Web sites.