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Full-on trade war: Trump jacks up tariffs on $550bn of Chinese goods, blasts ‘unfair’ response

2 hours ago DieselGasoil Comments Off on Full-on trade war: Trump jacks up tariffs on $550bn of Chinese goods, blasts ‘unfair’ response
US President Donald Trump has announced yet another major hike of existing and future tariffs on some $550 billion in Chinese goods, criticizing Beijing’s attempt to offset the losses as ‘unfair’ and ‘politically motivated.’ Duties on $250 million worth of Chinese goods already taxed at 25 percent will increase to 30 percent starting on October Read More

Trump hikes existing & future tariffs on Chinese goods in major trade war escalation

4 hours ago DieselGasoil Comments Off on Trump hikes existing & future tariffs on Chinese goods in major trade war escalation
US President Donald Trump has announced further tariffs on $250 billion in Chinese goods, upping existing 25 percent duties to 30 percent. Another $300 billion in goods due to be taxed at 10 percent will be taxed at 15 percent. The 25 percent tariff is already in effect, and will become a 30 percent tariff Read More

Wall Street plunges as U.S.-China trade war intensifies

5 hours ago DieselGasoil Comments Off on Wall Street plunges as U.S.-China trade war intensifies
NEW YORK (Reuters) – Wall Street tumbled on Friday after the U.S.-China trade war escalated in dramatic fashion, with President Donald Trump demanding that American companies seek alternatives to doing business with China after Beijing announced its own slate of retaliatory measures. FILE PHOTO: Traders work on the floor at the New York Stock Exchange Read More

Dow Jones tanks 600+ points as Trump trades barbs with Beijing and the Federal Reserve

5 hours ago DieselGasoil Comments Off on Dow Jones tanks 600+ points as Trump trades barbs with Beijing and the Federal Reserve
The Dow Jones saw a steep drop of 700 points after a threat from Beijing to slap new tariffs on billions of dollars in American goods, and a harsh response from US President Donald Trump, but picked up before ending 621 down. The precipitous fall in the Dow on Friday came after China unveiled its Read More

Dow Jones tanks 700+ points as Trump trades barbs with Beijing and the Federal Reserve

6 hours ago DieselGasoil Comments Off on Dow Jones tanks 700+ points as Trump trades barbs with Beijing and the Federal Reserve
The Dow Jones saw a steep drop of 700 points following a threat from Beijing to slap new tariffs on billions of dollars in American goods – and a harsh response from US President Donald Trump – amid an ongoing trade dispute. The precipitous fall in the Dow on Friday came after China unveiled its Read More

Trump calls on U.S. firms to exit China as trade war escalates

6 hours ago DieselGasoil Comments Off on Trump calls on U.S. firms to exit China as trade war escalates
WASHINGTON/BEIJING (Reuters) – President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession. FILE PHOTO: U.S. President Donald Trump and China’s President Xi Jinping pose for a photo ahead of Read More

Trump tweetstorm sinks Wall Street as trade war rages on

7 hours ago DieselGasoil Comments Off on Trump tweetstorm sinks Wall Street as trade war rages on
NEW YORK (Reuters) – Wall Street plunged in a broad sell-off on Friday as China and the United States traded their latest salvos in a prolonged trade war, spooking investors and erasing slight gains following a generally positive speech by U.S. Federal Reserve chair Jerome Powell. FILE PHOTO: Traders work on the floor at the Read More

Powell: Fed to act as appropriate to keep expansion going

11 hours ago DieselGasoil Comments Off on Powell: Fed to act as appropriate to keep expansion going
(Reuters) – The U.S. economy is in a “favorable place” and the Federal Reserve will “act as appropriate” to keep the current economic expansion on track, Fed chair Jerome Powell said on Friday in remarks that gave few clues about whether the central bank will cut interest rates at its next meeting or not. FILE Read More

China to slap retaliatory tariffs on $75 billion-worth of US goods, targeting soybeans, oil & cars

11 hours ago DieselGasoil Comments Off on China to slap retaliatory tariffs on $75 billion-worth of US goods, targeting soybeans, oil & cars
Beijing has finally unveiled its response to Washington’s latest tariffs, vowing to hike levies on $75 billion-worth of US exports and to resume 25 percent tariffs on American automobiles. Beijing’s response measures will be implemented at the same stage as Washington’s, which plans to levy tariffs on $300 billion-worth of Chinese products on September 1 Read More

China slaps retaliatory tariffs on $75bn of US goods

12 hours ago DieselGasoil Comments Off on China slaps retaliatory tariffs on $75bn of US goods
By Ganesh Rao, business reporter China is to hike tariffs on $75bn (£61bn) of US goods in the latest escalation of the trade war between the world’s two largest economies. Beijing says tariffs will rise by 5-10% on American goods and will begin to take effect on two batches of goods starting from 1 September Read More