Markets took another plunge as China announced the increased tariff, the latest move in the escalating trade war between the two super powers that threatens to wipe out billions of dollars of trade

The madness accelerates:

China has said they will bring in an extra 84% tariffs on the US after Donald Trump put a 104% tariff on some Chinese imports to the US.

This is a 50% increase on top of China’s previous tariff. This comes after an editorial in the state-run newspaper China Daily declared: “Global unity can triumph over trade tyranny.”

…

“The situation has dangerously escalated. As one of the affected members, China expresses grave concern and firm opposition to this reckless move,” China said in a statement.

Beijing “firmly opposes and will never accept such hegemonic and bullying practices,” foregin ministry spokesperson Lin Jian told reporters on Wednesday.

China hits US with 84% tariffs and calls for unity ‘against Trump tyranny’

Markets took another plunge as China announced the increased tariff, the latest move in the escalating trade war between the two super powers that threatens to wipe out billions of dollars of trade

https://www.themirror.com/news/us-news/china-tariff-usa-response-trump-1081554