President Donald Trump raised the tariff on $200 billion of imports from China amid frustrated trade talks between Washington and Beijing.
China vowed to take “necessary countermeasures” after the U.S. went ahead with a hike of its trade tariffs on $200 billion of Chinese imports.
As a consequence, on Friday the U.S. pushed ahead with delayed plans to increase the tariff on a long list of Chinese imports from 10% to 25%. The list includes goods such as meat, fish, fuels, chemicals, textiles, metals, tools, electrical items, and more. Senator Joni Ernst, an Iowa Republican, told The Washington Post on Tuesday that farmers are “losing their patience...but they want to see a deal.”
"The market’s reaction has not been all doom and gloom," London Capital Group analyst Jasper Lawler told ShareCast. "We are not seeing see the same risk off reaction that we have seen in previous sessions.
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