Trump allegedly wants to impose new tariffs on China

United States President Donald Trump wants to continue with the plan to impose tariffs on US$200 billion in Chinese imports. According to Bloomberg the tariffs are to be imposed as soon as the public comment period concludes, next week.

Members of the public and companies have until next week, 6 September to summit their comments on the proposed duties.  The duties cover everything from selfie-sticks to semiconductors. The US President plans to impose tariffs as soon as the comment period is over, according to six people who are familiar with the matter (anonymous) – Bloomberg.

Stocks dropped as soon as it was announced, the offshore Yuan dropped while the dollar and the Yen gained aimed flight to safety.

According to Bloomberg the US has so far imposed levies on US$50 billion in Chinese goods, with China retaliating.

 

 

Source: Bloomberg

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