U.S. President Donald Trump instructed the U.S. trade representative to consider slapping an additional $100 billion US in tariffs on Chinese goods on Thursday in a dramatic escalation of the trade dispute between the two countries, reports the CBC.
Trump's surprise move came a day after Beijing announced plans to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move this week to slap tariffs on $50 billion in Chinese imports.
And it intensified what was already shaping up to be the biggest trade battle since the Second World War. Global financial markets had fallen sharply as the world's two biggest economies squared off over Beijing's aggressive trade tactics. But they had calmed down Wednesday and Thursday on hopes the U.S. and China would find a diplomatic solution.
Instead, the White House announced after the markets closed Thursday that Trump had instructed the office of the U.S. trade representative to consider whether $100 billion of additional tariffs would be appropriate and, if so, to identify which products they should apply to. He's also instructed his secretary of agriculture "to implement a plan to protect our farmers and agricultural interests."
World markets lower on Friday after U.S. President Donald Trump’s threat to impose an extra $100 billion in tariffs on China exacerbated fears of a more serious trade dispute, reports Reuters. European shares followed their Asian counterparts into the red but the falls were limited, and the broader ups and downs for markets this week suggest investors are not yet convinced the row will escalate into a full-blown trade war that threatens global economic growth.
Now, this is big boy card game our little piss ant in Ottawa couldn't even tell India to go F#$K itself and his approach is here is our country open for all to take just send me a little check to my foundation and I'm ok.
Trump's surprise move came a day after Beijing announced plans to tax $50 billion in American products, including soybeans and small aircraft, in response to a U.S. move this week to slap tariffs on $50 billion in Chinese imports.
And it intensified what was already shaping up to be the biggest trade battle since the Second World War. Global financial markets had fallen sharply as the world's two biggest economies squared off over Beijing's aggressive trade tactics. But they had calmed down Wednesday and Thursday on hopes the U.S. and China would find a diplomatic solution.
Instead, the White House announced after the markets closed Thursday that Trump had instructed the office of the U.S. trade representative to consider whether $100 billion of additional tariffs would be appropriate and, if so, to identify which products they should apply to. He's also instructed his secretary of agriculture "to implement a plan to protect our farmers and agricultural interests."
World markets lower on Friday after U.S. President Donald Trump’s threat to impose an extra $100 billion in tariffs on China exacerbated fears of a more serious trade dispute, reports Reuters. European shares followed their Asian counterparts into the red but the falls were limited, and the broader ups and downs for markets this week suggest investors are not yet convinced the row will escalate into a full-blown trade war that threatens global economic growth.
Now, this is big boy card game our little piss ant in Ottawa couldn't even tell India to go F#$K itself and his approach is here is our country open for all to take just send me a little check to my foundation and I'm ok.
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