|

US list of China tariffs violates international trade rules - China Press

The Xinhua News Agency of the Chinese Press is reporting that the US' list of tariffs on Chinese goods violates international trade rules after the US released a list of targeted goods for additional duties.

Key highlights

Xinhua, a Chinese state-run news agency has responded quickly to the US' announcement of further tariffs to be placed on an expansive list of Chinese-made goods, targeting $50 billion in imports. The US claims that the tariffs, which cover around 1,300 separate products from depleted uranium cores to baking ovens to hospital equipment, is meant to target China's technology transfer and intellectual information theft. China is expected to respond in short order with their own raft of tariffs in retaliation, and the brinkmanship heading into a trade war continues to escalate.

Author

Joshua Gibson

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

More from Joshua Gibson
Share:

Editor's Picks

EUR/USD struggles below 1.1800 ahead of US data, Fedspeak

EUR/USD remains trapped in a tight range below 1.1800 in the European session on Tuesday. The pair struggles amid a modest US Dollar strength and an improvement in risk sentiment, even as US tariff uncertainty lingers. The focus now remains on the US data and Fedspeak. 

GBP/USD stays defensive below 1.3500 as USD firms up

GBP/USD stays on the back foot below 1.3500 in the European trading hours on Tuesday. The pair declines as the US Dollar rebounds from losses recorded over the previous two sessions. Traders will focus on the US weekly ADP Employment Change and Consumer Confidence data due later in the day, along with speeches from Federal Reserve officials.

Gold holds pullback below $5,200 amid USD uptick

Gold holds moderate losses below $5,200 in European trading on Tuesday, though it lacks follow-through selling. Following the previous day's knee-jerk fall in reaction to US President Donald Trump's new global tariffs and the subsequent bounce, the US Dollar attracts fresh buyers ahead of mid-tier data and Fedspeak. 

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.

AI-scare trade and tariff uncertainty takes hold

It was quite a day, with AI-disruption fears and tariff uncertainty triggering a risk-off session. By now, it's nearly impossible to have missed the Supreme Court's 6-3 decision that struck down US President Donald Trump's reciprocal tariffs last Friday.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.