U.S., China Trade War Deepens as Beijing Retaliates With Higher Tariffs

(Source)

WASHINGTON — The United States and China escalated their trade fight on Monday as Beijing moved to raise tariffs on nearly $60 billion worth of American goods in retaliation for President Trump’s decision to punish China with higher tariffs on a slew of imports.

China’s finance ministry announced that it was raising tariffs on a wide range of American goods to 20 percent or 25 percent from 10 percent in response to Mr. Trump’s decision to raise tariffs to 25 percent on $200 billion worth of Chinese goods. China’s increase will impact the roughly $60 billion in American imports already being taxed as retaliation for Mr. Trump’s previous round of levies, including beer, wine, swimsuits, shirts and liquefied natural gas.

The S&P 500 fell more than 2 percent soon after trading began in New York, and shares of companies particularly dependent on trade with China, including Apple and Boeing, fared poorly. The

Full Story Here

Five Filters



Support Us