US President Donald Trump threatened with new ‘Massive increase’ of duties on imported Chinese products, stating that there is no reason to meet with Chinese President Xi Jing in two weeks in South Korea, as planned.
US president argued that China ‘Becomes very hostile’, Referring to the letters sent by Beijing to the world with which he informs that he plans to impose strict controls on rare land exports.
“No one has seen something like this but, in essence, it will cause congestion in the markets and make life difficult for all countries of the world, especially For China » Trump supported a post on the Truth Social platform. He added that “he will be forced to fight financially” in China after these restrictions and one of his choices is the “massive” increase in tariffs on imported Chinese products.
Trump said he hasn’t talked to Si Jinping because “There is no reason to do so.”
The New York Stock Exchange fell after Trump’s threat of new tariffs on Chinese products. The key indicators rose to the start of the session, but shortly thereafter the Dow Jones industrial index fell 0.30%, the NASDAQ Nasdaq index by 0.86%and the enlarged S&P 500 index by 0.50%.
On Thursday, China announced that it will implement, with immediate effect, new reinforced controls on rare -legged technology exports, a sector that is at the heart of its collision with the US and the EU. The Asian colossus is the largest producer of rare land, materials,
Today, products from China are taxed with a minimum of 30% until November. Meanwhile, US exports to China are taxed at 10%. Earlier this year, duties in both countries, the two largest economies, launched more than 100%, essentially stopping trade.
Source: Skai
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