Trade row deepens as China ups tariffs on $60B in US goods

[Yo_Mama_Been_Loggin]

BEIJING — Deepening a trade battle and sending financial markets spinning, China announced Monday it was raising tariffs on $60 billion of U.S. goods in retaliation for the latest hike in U.S. tariffs on its exports.

The Finance Ministry said Monday the new penalty duties of 5% to 25% on hundreds of U.S. products including batteries, spinach and coffee will take effect June 1.

That followed Trump’s increase on Friday of duties on $200 billion of Chinese imports from 10% to 25% after charging that China had backtracked on commitments it made in earlier negotiations in a dispute over Beijing’s technology ambitions and perennial trade surplus.

Resuming his messages over Twitter early Monday, President Donald Trump warned Chinese President Xi Jinping (shee jihn-peeng) that China “will be hurt very badly” if it doesn’t agree to a trade deal.

https://www.heraldnet.com/business/trade-row-deepens-as-china-ups-tariffs-on-60b-in-us-goods/?utm_source=DAILY+HERALD&utm_campaign=0da9c9574e-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_d81d073bb4-0da9c9574e-228635337

I'm sure they're shaking in their boots.

[Thomas Hurt]

1. Our economy is strong and can take some abuse from tariff wars...

the Chinese don't care about the plight of their people and will make as many suffer as needed to reach their goals.

If our economy takes serious downturn, Donnie's tariff war leverage goes to sh*t.