Trump rocks China with more tariffs, escalates trade conflict

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U.S. President Donald Trump lashed China on Thursday anew, announcing that he would impose a 10% tariff on $300 billion of imports from China starting September 1.

Adding insult to the injury, an adamant Donald Trump made the surprise move through social media announcement as he learned about the slow development in the on-going US-China talks in Shanghai.

This move by the US breaks the truce in between these two giant countries. Trump imposed further threats by saying that he would raise the tariffs even more if China will remain passive amidst the trade blows and won’t come up with a good deal with the US.

In response, Senior Chinese diplomat Wang Yi told reporters that adding tariffs was not the best way to ease the inflicting conflict.

The Federal Reserve meanwhile will take some measures by considering new interest rate cuts to protect the US economy from trade-policy risk, as analysts put it.

 

 

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