China raises tariffs on US goods amid escalating tensions - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABC News Online
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

China raises tariffs on US goods amid escalating tensions via SABCNewsOnline

From socks and sneakers to washing machines and watches, countries across Asia are hoping the US tariff squeeze on China will presage a permanent shift in manufacturing patterns as big name brands dodge the trade war in cheaper locations to make their goods.

Washington and Beijing resumed their trade battle last month when trade talks in the US ended without a deal, with American negotiators accusing Chinese negotiators of reneging on previous commitments.The tit-for-tat tariff war has been upstaged in recent weeks by Washington’s move to blacklist Chinese tech giant Huawei over national security concerns, threatening the firm’s global ambitions.

In an opinion piece published by China’s state broadcaster Saturday, Chinese legal expert Kong Qingjiang said China’s entity list would mimic that of the US. China’s state-owned tabloid the Global Times said the new list would “work as deterrent forming a protective barrier around Chinese companies”. China responded by increasing tariffs five percent to 25 percent on 5,410 American products Saturday, worth $60 billion in trade.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Serious trade war,but why our Rand is affected by this hogwash?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 32. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oil rises on decline in US stocksConcern over the escalating US-China trade war caps gains
Source: BDliveSA - 🏆 12. / 63 Read more »

China to create company blacklist as US trade war escalatesChina said it would release a blacklist of 'unreliable' foreign companies and individuals.
Source: eNCA - 🏆 49. / 51 Read more »

'Don't be too optimistic': Huawei employees fret at US ban - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.While Huawei's founder brushes aside a US ban against his company, the telecom giant's employees have been less sanguine, confessing fears for their future in online chat rooms.
Source: SABC News Online - 🏆 32. / 51 Read more »