China is ready to respond to US $50 billion tariffs in Chinese imports announced by Trump last Friday. Fears that the trade war escalates exerted a pressure on oil prices.
Tag: tariff
United States announced the imposition of $ 50 billion tariffs in Chinese goods by revising a tariff list of 800 products. President Trump is also getting ready for a second phase and a second list of $100 billion this time.
Under the guise of his forthcoming summit with Kim Jong-un, Trump plans an early departure from 2018 G7 Summit.
Although the G7 summit official agenda does not explicitly mentions it, trade war, US tariffs and climate change will lead the talks. Recently Trump decided to impose 10% and 25% tariff on imported steel and aluminum, respectively, from EU, Canada and Mexico. The response on the part of once US allies was instant. Such differences on core issues may result to absence of the usual joint communique for the first time in G7 history.
Trump decided to impose 10% and 25% tariff on imported steel and aluminum, respectively, from EU, Canada and Mexico. US tariffs set off a domino effect.