Indices decline, China announces new tariffs

04.04.2018 / 11:37

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China announced additional tariffs on 106 U.S. products on Wednesday, in a move likely to heighten global concerns of a tit-for-tat trade war between the world's biggest economies.

The effective start date for the new charges will be revealed at a later time, though China's Ministry of Commerce said the tariffs are designed to target up to $50 billion of U.S. products annually — including soybeans, cars and whisky.

The move comes less than 24 hours after President Donald Trump unveiled a list of Chinese imports that his administration aims to target as part of a crackdown on what the president deems unfair trade practices.

Sectors covered by Trump's proposed tariffs include products used for robotics, information technology, communication technology and aerospace.

The trade showdown between Washington and Beijing has rattled investors and fueled market fears that the dispute could soon spiral into a full-blown trade war.

Source: Bloomberg Pro Terminal

Trader Aleksandar Kumanov

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Indices decline, China announces new tariffs

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