Trump’s Trade War Escalates as China Retaliates With 34% Tariffs

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On Friday evening in Beijing, in a rapid fire series of policy announcements including 34 percent across-the-board tariffs, China showed that it has no intention of backing down in the trade war that Mr. Trump began this week with his own steep tariffs on imports from around the world.

China’s Finance Ministry said it will match Mr. Trump’s plan for 34 percent tariffs on goods from China with its own 34 percent tariff on imports from the United States.

Separately, China’s Ministry of Commerce said it was adding 11 American companies to its list of “unreliable entities,” essentially barring them from doing business in China or with Chinese companies. 

https://archive.ph/QrBwf

 

Actually, after Canada and Mexico, China is America's third largest export market.

 

China is also going to restrict the export of seven rare earth elements which it pretty much has a lock on. Rare earth elements are crucial to lots of industries.

 

Doesn't look exactly like China is quaking in its boots.

 

 

 

[Tug]

Quell surprise….now we all know trumps illness makes him double down cause he can’t admit mistakes….this fiasco is just getting started.this is getting so big and expensive I’m thinking there’s a really good chance someone is going to fix the problem if you catch my drift.