Dollar falls, yet trump is patting his back!
The US has given relief from tariffs to more than 75 countries of the world, but trump is continuously increasing the duty on goods imported from China. Due to the fall in the dollar and turmoil in the markets, concerns about the US economy have increased. Meanwhile, US President donald trump posted on the social media platform Truth and said that we are doing a really good job on our tariff policy, which is very exciting for America and the world. He said that we are moving fast.
Xi Jinping's first reaction on tariff
Trump's statement has come at a time when the US dollar has registered a huge fall and it has reached a three-year low against the euro. On Trump's tariff policy, Chinese President Xi jinping said, "China and europe should fulfill their international responsibilities together and jointly oppose America's unilateral threatening policies."
Tariff war breaks out between china and America
China retaliated against the continuous increase in tariffs by the trump administration. china also increased the tariff on import of American products to 125 on Friday. Earlier, the US had announced to increase the duty on products imported from china to 145 percent. However, china has also shown interest in negotiating with the US administration to resolve the trade war over the Customs Commission.
Announcing an additional 125 percent duty on US imports, China's Customs Commission said, "If the US imposes even more duty, it will not make any economic sense and will eventually be recorded as a joke in world economic history." china said that if the US continues to undermine our interests, china will take strict retaliatory action and fight till the end. China's Commerce Ministry has also filed a lawsuit against the US in the World Trade Organization (WTO).
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