China cuts U.S. investments by 92% amid escalating trade war

Markets drop over trade war fears

Markets drop over trade war fears

The United States has initiated a trade war and violated market regulations, and is harming the interests of not just the people of China and the US, but of the world.

This move from President Trump could be counted as a countermeasure to China's decision to raise tariffs about $50 Billion on U.S products.

The dollar, yen and Swiss franc rose on Tuesday as traders piled into perceived less risky currencies after US President Donald Trump threatened to slap more tariffs on China, fanning a trade dispute between the world's two biggest economies.

The threat of new tariffs against China pits the world's two largest economies against each other and looks set to disrupt global supply chains for the tech and auto industries, two sectors heavily reliant on outsourced components. He added that China is a "predatory economic government" that is "long overdue in being tackled, " matters that include IP theft and Chinese steel and aluminum flooding the US market. "While there is in principle still room for negotiation, attitudes seem to be hardening".

White House trade adviser Peter Navarro last week said a deal to keep ZTE in business was a personal favour to the Chinese president, and said that if the company fell afoul of the USA one more time, it would be shut down.

"President Donald Trump has raised the stakes once more". China's tariffs would target agricultural products, cars and seafood, among other items.

According to Apple's unpaid press office, the New York Times, Cook travelled to the White House last month to warn Trump of the potentially adverse effects of Trump's trade policies on Apple in China.

Navarro said USA officials planned to cushion against the blows to American industries and workers in the United States and present in China but declined to elaborate on any plans to help the U.S. farming sector.

The Japanese yen strengthened to 110.02 against the dollar, up as much as 0.47 percent on the day, after President Trump threatened to impose a 10 percent tariff on $200 billion of Chinese goods, fuelling trade war worries with Beijing.

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Following Trump's announcement, China rolled out retaliatory tariffs on $50 billion worth of United States goods and promised to stand firm against the US's actions.

The planned new wave of tariffs would have to go through a similar process of public consultation and comment as the earlier ones before taking effect.

In Beijing, China's Commerce Ministry responded swiftly to Trump's latest threat, warning that if the United States imposed fresh tariffs, China would have to adopt "comprehensive measures combining quantity and quality to make a strong countermeasure".

"If China increases its tariffs yet again, we will meet that action by pursuing additional tariffs on another $200 billion of goods". The price the United States wants is not only to take advantage of China; even more so it wants to wreck China's economy.

The White House is also expected to announce restrictions on investments by Chinese companies in the United States by June 30.

With the trade feud escalating and no further talks scheduled between the two governments, stocks dropped sharply Tuesday.

It could also be that he thinks China will run out of USA imports against which to retaliate.

He said China's recent claims of "openness and globalization" are "a joke". He added that China is a "predatory economic government" that is "long overdue in being tackled", matters that include IP theft and Chinese steel and aluminium flooding the USA market.

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