The tit-for-tat measures are the latest escalation in an increasingly protracted trade dispute between the world’s two largest economies.
China will levy tariffs on about $60 billion worth of U.S. goods in retaliation for the latest round of U.S. tariffs on Chinese products, as previously planned, but has reduced the level of tariffs that it will collect on the products.
China says new tariffs on U.S. goods effective at 1201 local hours on Sept 24 – China says it will increase tariffs on $60 billion worth of U.S. goods in retaliation after President Donald Trump announced new U.S. tariffs on $200 billion worth of Chinese imports.
They are under pressure to make a deal with us. Our markets are surging, theirs are collapsing. We will soon be taking in Billions in Tariffs & making products at home. If we meet, we meet? – Neal Bhai Reports
The US economy is growing, inflation has finally hit the US Federal Reserve’s 2% target, and unemployment is quite low – and at an all-time low for African-Americans and Hispanics. For the first time in memory, there are more job openings listed by US companies than there are unemployed people. Such conditions usually foreshadow rising real (inflation-adjusted) wages, which would indicate that American workers, many of whom were left behind in the anemic post-crisis recovery, might finally reap benefits from the strong economy.
The Reserve Bank of India sold as much as $12 billion in May in the spot and forward markets together — the highest ever combined sale of dollars — as foreign fund outflows increased and trade war and interest rate hike fears threatened to drive markets lower.
Gold Silver Reports – India’s largest exchange plans to start extended trading subject to approval from the regulator some time in October, it said in an email to clients. The bourse shared a “skeletal framework” for trading till 11.55 p.m.—nearly seven hours more than now.
Gold Silver Reports (GSR) – The earlier report by the China Daily has been revised – The media outlet has now come out to change its earlier report here and say that “China will take action against US tariffs” – implying that retaliatory tariffs are yet to have been slapped on US goods as suggested earlier.