Updated Tariff Hikes by US Come Into Effect, China to Retaliate Soon

President Trump’s decision to hike tariffs on $200 billion worth of Chinese goods from 10% to 25% comes into effect starting today. Despite Chinese Vice Premier Liu He’s visit being underway in Washington, Trump has gone ahead with his decision to impose higher tariffs.

Markets now wait to see how China will retaliate to this tariff hike. So far, we’ve heard the Chinese Commerce Ministry express deep regret on this issue.

Yesterday’s meeting between Chinese Vice Premier Liu He and US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin lasted 90 minutes. The meetings are set to resume later today, but markets remain unsure if both sides can salvage the deal.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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