China applied tariffs to same value of US goods at the same rate - Xinhua

Haresh Menghani FXStreet

According to a report by Xinhua news, China is said to have applied tariffs to the same value of US goods at the same rate and the move was effective from 12:01 PM Friday.

It is worth reporting that the new US tariffs on $34 billion worth of Chinese imports, with a levy of 25% came into effect from 0400 GMT.

Meanwhile, the US President Donald Trump has threatened to impose an additional $500 billion tariffs if China opts for retaliatory measures and the latest announcement now escalates the risk of a potential full-blown trade war.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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