Connect with us

Hi, what are you looking for?

Stocks

The Chinese Trade War Heats Up

As if a 10 percent imposed tariff on Chinese imported goods wasn’t scary enough for the economy, President Donald Trump has now proposed bumping the tariff up to 25 percent on the $200 billion of Chinese imported goods.

Surprisingly, China is ready to retaliate back on these acclaims. A Chinese Foreign Ministry spokesperson said “U.S. pressure and blackmail won’t have an effect. If the United States takes further escalatory steps, China will inevitably take countermeasures and we will resolutely protect our legitimate rights.”

Trump may think he’s fighting for the rights of the U.S. economy, but investors and analysts are beginning to grow wary of the potential threat to the market, especially with high quarter 2 reports and the dollar index for the U.S. being on the rise.

The first group to be truthfully struck by these tariffs were farmers and the agriculture industry. Steel and aluminum are now more expensive, and the prices on soybeans have plummeted. If one industry begins to fall short, others could soon follow, causing the entire economy to stagnate.

While the tariffs would not be imposed until after “a period of public comment,” tensions are high in the big business and international worlds.

You May Also Like

News

In the past year, Peloton, manufacturers of stationary exercise bicycles and treadmills, has been experiencing some severe financial difficulties. The company went through a...

News

While the ongoing supply chain problems affecting the global economy have had the expected effects, they’ve also had some decidedly unexpected effects. Specifically, many...

News

As gas prices continue to rise and consumer confidence drops, not to mention the ongoing war in Ukraine, the European economy is taking a...

News

As the environmental need for electric vehicles becomes more pressing, and the car-buying public becomes more eager for them, automotive manufacturers are getting ready...

News

This morning, Coinbase CEO Brian Armstrong sent a mass email out to his company informing everyone that, as stock and crypto prices slip and...

News

Last week, a former cybersecurity expert for Twitter, Peiter “Mudge” Zatko, released a whistleblower report on the social platform. In his report, Zatko cited...

News

Zelle is a peer-to-peer payment app and service that can be used by individuals to send and receive money, in a similar vein to...

News

Earlier this week, following the third-term victory of Chinese President Xi Jinping, market shares in Hong Kong experienced a sudden, violent sell-off. Xi’s controversial...