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Trade war begins

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Odwa Magwentshu
Market-Podcast

The U.S threw the first punch in a trade fight and now Xi Jinping has no choice but to match Donald Trump blow for blow. In The U.S president’s to announcement of tariffs on Chinese goods on Friday, Trump vowed additional duties if China retaliated. To the U.S’s surprise, Beijing immediately retaliated and has made it clear that they will not bow to the demands to abandon its industrial policy aimed at dominating the technology of the future. Next move is Trump’s after China hits back in trade-war opener. A 25 percent tariff will be imposed on $34 billion in goods imports, with further duties on another $16 billion in imports under consideration. In response, China said it would charge tariffs of the “same scale and intensity” on goods from the U.S., adding that all trade commitments made during the previous weeks of negotiations are now off the table.


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