China's Commerce Ministry said it would take countermeasures against the American tariff hike. It did not announce what its response would entail but said it 'deeply regrets' the turn of events.
to 25% on $200 billion of Chinese goods — which he made good on just after midnight ET on Friday.
She added that she expects added pressure on American firms operating in China, potentially including a slowdown in approvals for banks and checks on imports. Another option for Beijing's retaliation could include currency depreciation, analysts said. That is, a drop in value for the yuan would give Chinese exports a trade advantage and potentially offset the impact of U.S. tariffs.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As Trump fights with China over trade, U.S.-China economic relationship already being redefinedThe trend of U.S. companies serving Chinese consumers with products made in China could pose a significant challenge to Trump’s “America First” agenda
Read more »
China greenlights second-hand car exports to boost salesChina commerce ministry has started allowing exports of second-hand cars, markin...
Read more »
US tariffs on China jump as deadline passes, China immediately says it will retaliateThe Trump administration is hiking duties on $200 billion worth of Chinese products to 25% from 10%.
Read more »
China's Sinopec, CNPC skip Iran oil buys for May as U.S. sanctions waivers end: sourcesChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Read more »
Sinopec, CNPC skip Iran oil purchases for May to avoid U.S. sanctionsChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Read more »
Cramer Remix: China needs us more than we need ChinaJim Cramer explains how the United States has the upper hand in trade negotiations with our stronger, cash fueled economy.
Read more »
US Navy destroyers sail near disputed islands claimed by China in South China SeaTwo U.S. guided missile destroyers sailed near disputed islands claimed by China in the South China Sea on Monday, the U.S. Navy says in a statement.
Read more »
Trump says 'no need to rush' with China trade deal in tweetPresident Trump said in a tweet storm Friday morning that he is in no rush to finish trade negotiations with China
Read more »
Trump says 'no need to rush' with China trade deal in tweet he later deletedPresident Trump said in a tweet storm Friday morning that he is in no rush to finish trade negotiations with China
Read more »
Dow plunges 450 points after Trump tweets on China trigger massive global selloffChinese officials reportedly pulled out of trade talks after Trump suddenly announced he would be more than doubling tariffs on most imported goods from China.
Read more »