American companies say their country’s trade dispute with China could hurt their businesses. Some even claim they are getting taxed twice as a result of the countries’ tit-for-tat tariff spat.
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.
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 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.
The US has announced a delay imposing tariffs on certain Chinese products that had been earmarked for the measure from next month. China has said the tariffs were "not a constructive way" to resolve the trade conflict.
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