China reacted to new tariffs introduced by US President Donald Trump, announcing an increase in US goods.
The Chinese government will impose 84% of all imports from the United States, starting tomorrow, April 10. This was reported by Bloomberg with reference to the statement of the Ministry of Finance of China.
It is noted that this step in China was taken a few hours after the largest American duties on Chinese goods in the last century, which reached 104%.
Such actions of the Chinese authorities reflect the additional duties that Trump put on Chinese goods as a punishment for the last response of Beijing to the growth of tariffs.
Since the tariffs have currently flew above the level, which, according to economists, will destroy bilateral trade, any further responsibilities will be more likely to be a political statement than a way of economic pressure, ”says Bloomberg.
Futures for US shares fell by more than 2% after China announced new tariffs, shares in Europe fell by 4%.
Source: Bloomberg
104% – the United States introduced new slugs against China
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.