Author: News Desk

Trump causes global chaos Tensions between the world’s two largest economies have increased overnight as Beijing vowed to “fight to the end”, in response to a new wave of US tariffs. The statement followed a dramatic escalation by President Donald Trump, who threatened an additional 50 per cent tariff on Chinese goods, unless Beijing reverses its newly announced 34 per cent reciprocal levy – retaliation for Trump’s earlier 34 per cent tariff hike on Chinese imports. The new US tariffs are set to take effect Wednesday.

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Trump issues new China tariff threat The FT looks at the escalating tariff war between China and the US after Trump threatened an additional 50% tariffs on China if Beijing did not withdraw its retaliatory levies. China has said it will not back down. US stocks closed slightly lower after a day of volatile trading. “If the US proceeds with implementing these escalated tariff measures, China will resolutely take countermeasures to safeguard its own rights and interests,” a commerce ministry spokesperson said. “If the US insists on going its own way, China will fight to the end.”

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