The President of America, Donald Trump has now spurred a new wave of commercial against China. Both countries have been involved in the escalation actions in their trade dispute.
On Friday, Trump announced about the tariffs. He said that he would be increasing tariffs on Chinese goods. The taxes would be increased by more than $500 billion in the trade war with China. This work of Trump has never reverted the whole stock market and the global economy. Since the trading between China and America was in a sound stage, he added on taxes. Trump unrevealed his measures on Twitter. The president has now vociferously downplayed the speculation that the recession could be on the bottom line.
Their trade dispute is now getting much more famous, and soon after hearing Trump’s announcement, China also has said that it would impose new reciprocal tariffs on $75 billion in the U.S automobile, farm trade and other things which were traded with the U.S. and hearing this, Trump as a reply, told that he had $250 billion in Chinese goods with a tax of 25% on September and 30% rate in October later on this year. While apart from these, the $300 billion assets that Trump got and has a tax rate of 10 percent would be growing up to 15%.
After this happened, Trump said that all that was happening must be balanced and it was not fair in the part of China to put on the new Tariff on $75 billion moreover, that it is a very Unfair Trade Practice for anyone. He sarcastically announced that he was the chosen one to take China down.
While all this happened, there is a drop in the U.S stock markets, and then Trump declared to find out the new opportunities for the firms to enhance and grow.