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trump threatens to double tariffs on China President Donald Trump demanded
government officials find him another 100 billion dollars pound 71.5 by
slapping more tariffs on China mr. Trump has already proposed 50 billion dollars
pound 35.7 in tariffs and US imports of Chinese products such as home appliances
and motor vehicles China responded to the original tariff proposal by
releasing its own list of products which are worth roughly the same amount and
will target duties if mr. Trump moved forward with his current course of
action there are more than 100 items on the list including agricultural
commodities such as soy beans Beijing also threatened to add 25% tariffs on
other US exports like automobiles chemicals and aircrafts . mr. Trump said
in a White House statement that the new tariffs were being considered in light
of China's unfair retaliation against earlier US trade actions he added rather
than remedy its misconduct China has chosen to harm our farmers and
manufacturers I am committed to enabling American companies and workers to
compete on a level playing field around the world and I will never allow unfair
trade practices to undermine American interests responding to mr. Trump's
comments the Commerce Ministry reiterated in a statement that China was
not afraid of a trade war even though it did not seek one and said the conflict
had been provoked by the US a spokesperson said if the United States
disregards the objections of China and the international community and persists
in unilateralism and trade protectionism the Chinese side will follow through to
the end at any cost and definitely fight back resolutely global markets have been
disrupted as the two economic superpowers are throwing a new wave of
trade threats at each other the dollar has fallen in today's trade as the Dow
Jones Industrial Average forecasted it would be down more than 400 points
analysts at Oxford Economics warned that a full-blown trade war will have
damaging consequences they said importantly these threatened
tariffs will be subject to negotiation and therefore shouldn't be considered as
final a full-blown trade war meanwhile would have a more pronounced effect the
US and China would suffer significant slowdown in real GDP growth accumulative
loss around 1.0 percentage point analysts added this would cut global
economic growth to 2 n a half percent 2019 from 3 percent dot they said
importantly these threatened tariffs will be subject to negotiation and
therefore shouldn't be considered as final a full-blown trade war meanwhile
would have a more pronounced effect the US and China would suffer significant
slowdown in real GDP growth accumulative loss around 1.0 percentage point
analysts added this would cut global economic growth to 2n a half percent
2019 from 3 percent thanks for watch please share like comment this video and
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