Only one week after Donald Trump announced new trade tariffs on imported aluminium and steel, the US president is reportedly set to sign them this afternoon. They'd take effect within a month.
The US president increased tensions with the hike as the stock markets went into a tailspin. Trump tweeted that he would be increasing tariffs by 5% on $300 billion of Chinese goods.
The president accused the central banker of being an "enemy" of the US, comparing him to Chinese leader Xi Jinping. Trump has been critical of the Federal Reserve not cutting interest rates faster or deeper.
Although Washington postponed a new round of tariffs on Chinese exports, Beijing has targeted US cars, oil and food. President Donald Trump went on a Twitter tirade after the Chinese announcement.
The imminent US tariffs on Chinese goods are expected to throw up some unexpected winners in Europe, a study shows. The gains for the European countries are only likely to increase if China chooses to retaliate.
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