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A Trade war has started between US and China
Highlights
Donald Trump, President of US, has vowed to cut US trade deficits and to protect the nation’s high-tech ‘crown jewels’. He has stated that he would be levying a 25 percent tariff on up to $50 billion worth of Chinese imports.
WASHINGTON: Donald Trump, President of US, has vowed to cut US trade deficits and to protect the nation’s high-tech ‘crown jewels’. He has stated that he would be levying a 25 percent tariff on up to $50 billion worth of Chinese imports.
This immediately escalated a trade dispute between the two countries economies.
Trump has stated that is fulfilling his promise of on what he calls China’s unfair trade practices and efforts to undermine US technology and intellectual property.
He also stated that there is no trade war.
Wall street has viewed the escalating trade tensions with wariness, fearful that they could strangle economic growth and undermine the benefits of the tax cuts Trump signed into last year.
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