China Retaliates With Tariffs on Over 5,000 US Products
China has hit back with higher tariffs on $60 billion worth of US goods
Arslan Butt•Tuesday, May 14, 2019•1 min read
We said there would be retaliation, and here it is. China has hit back with higher tariffs on $60 billion worth of US goods, including frozen vegetables, meat products, liquefied natural gas, cooking oil, tea and coffee.
China has announced higher tariffs on over 5,000 products imported from the US. The new tariffs range from 5% to 25% and come on the back of Trump’s decision to hike tariffs from 10% to 25% on $200 billion worth of Chinese goods.
The US government has confirmed that President Trump will be meeting with his Chinese counterpart Xi Jinping next month even as trade tensions escalate. Global markets are already feeling the heat with indices closing lower on Monday.
DOW ended the day 2.25% down, SPX lost 2.49% and NASDAQ was down by 3.4%. The impact was also felt in European stock markets where FTSE ended Monday’s session 0.5% lower.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
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.
Related Articles
Comments
Subscribe
Login
Please login to comment
0 Comments
Oldest
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals