TARIFF WAR BETWEEN U.S.A AND CHINA IS GETTING WORSE

After months long tensions between U.S.A and China, There is still no good sign in the market that both countries will negotiate and release their final decision. Now China, said that it would also impose higher tariffs on some of US goods even after President Donald Trump’s warning. China’s finance Ministry told to media, that they are planning to impose tariffs on 5,140 products worth about $60 billion from 5 percent to 25 percent with the effect on June 1. Global equities fall on Tuesday as hopes of this important trade deal. The two countries had a meeting on last Thursday and Friday where US decided not to step back. This led Chinese officials in anger and they left in middle of their Thursday’s meeting after discussing for 90 minutes. Trump also wrote “I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries”. He also said “China should not retaliate-will only get worse”.

Leave a Comment

Your email address will not be published. Required fields are marked *