China Retaliates Tit For Tat on Trade Roiling Markets

#17079
TradersCom
Keymaster

So much for negotiating a trade deal:

Tit for tat :

Friday China announced it will impose 25 percent tariffs on 545 imported U.S. products starting July 6, 2018. According to the Chinese commerce ministry, the first round of tariffs will apply to agriculture products, automobiles, and seafood, among other products.

Tariffs on 114 additional products including chemicals, medical equipment, and energy products will start at a later date. The affected products are worth a total of $50 billion. The Chinese tariffs are in response to President Donald Trump’s announcement that the U.S. will place tariffs on $50 billion worth of Chinese goods.