Trump Plans New Tariffs

The trade war is about to begin.

Economic News
2018년 6월 19일
Trump Plans New Tariffs

After putting into effect his previous plan for tariffs on Chinese imports worth $50 billion last week, US President Donald Trump announced today that another $200 billion worth of goods from China might soon face a 10% tariff.

According to the White House, this surprising new decision is a direct response to China’s $50 billion tariffs on US goods. Nevertheless, China’s fees were only enacted as a reaction to Trump’s first round of tariffs. With a second wave of fees aimed at China, it is possible that the Asian country will retaliate and impose more reactive tariffs on US goods, creating a vicious economic circle between the two largest economies in the world.

This most recent information from Trump actually had a negative effect on the stock market and the US dollar. China officially stated they will fight back, no matter how many times they are slapped with tariffs, and levy a proportional fee on American goods. The Chinese government also accused the United States of being too aggressive and pushing for a trade war, disregarding international trade agreements reached in the past.

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