Trade tensions reach dangerous heights as Trump retaliates against China

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Investors were taught a very valuable lesson on Friday as tensions between the United States and China reached new heights – to always expect the unexpected on trade developments.

US President Donald Trump wasted no time in counterpunching against retaliatory tariffs announced by Beijing, vowing to hike US tariffs on $250 billion of Chinese imports from 25% to 30% starting on 1 October. He also said planned tariffs on the remaining $300 billion worth of Chinese goods due to start on September 1 will now be 15% instead of 10%. With the President also demanding US businesses to “immediately… Read More:

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