CHINA and Global Trade War Chinese Markets stay on the ball as the deadline for tariffs imposition on Chinese exports by the United States approaches. China is expected to fight back US tariffs, especially those regarding the technology firms.
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Trump’s intriguing tweets are the focus of the attention of the ongoing tariff war. Harley Davidson and US tariffs on cars from the E.U. were in the US President’s firing line on Tuesday.
Escalating Trade War The escalating trade war between USA and China keeps broader currency markets concerned.
Following China’s response to US $50 billion tariffs in Chinese imports announced by Trump last Friday, new threats emerged. Trump announced fresh Tariffs of 10% on $200bn Chinese goods if China “insists on going forward with the new tariffs”.
Strong words, tense and anger highjacked the 2018 G7 summit. As analysts expected US allies fought against Trump’s decision to impose tariffs on imported steel and aluminium from EU, Canada and Mexico. Trump abruptly withdrew support for a joint G7 communique, after G7 summit, for the first time in G7 history.