China raised tariffs on U.S. goods from 84% to 125% on Friday in direct retaliation to President Donald Trump’s sweeping trade actions, according to the South China Morning Post. The Customs Tariff Commission stated it would ignore further U.S. tariffs, citing that American exports are already losing market viability. China’s Ministry of Commerce denounced the U.S. strategy as “unilateral bullying,” calling for the removal of all tariffs and reaffirming support for the global trading system. Analysts say Xi is reluctant to negotiate directly with Trump due to internal political pressure from the Communist Party leadership.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02China's raised tariffs on U.S. goods from 84% to 125% on Friday in direct retaliation
00:07to President Donald Trump's sweeping trade actions according to the South China Morning Post.
00:12Customs Tariff Commission stated it would ignore further U.S. tariffs,
00:15citing that American exports are already losing market viability.
00:18China's Ministry of Commerce denounced the U.S. strategy as unilateral bullying,
00:23calling for the removal of all tariffs and reaffirming support for the global trading system.
00:27Analyst say Xi is reluctant to negotiate directly with Trump
00:30due to internal political pressure from the Communist Party leadership.
00:34For all things money, visit Benzinga.com slash GSTV.