Donald Trump Tariffs: China vows to ‘fight to the end’ against latest Trump threat
Donald Trump Tariffs: The world has been hit by a major economic crisis. US President Donald Trump's tough tariff rules fueled the global trade war, which worsened the situation on Monday. Trump threatened an additional 50% tariff on China, while the European Union has also proposed a 25% retaliatory tariff. The result?
Stock markets around the world are falling continuously.
Oil prices fell to $60 per barrel. Russia, which is dependent on oil and is in crisis due to the war, its Urals oil reached close to $50. On the other hand, China has termed Trump's new threat as 'mistake after mistake' and has resolved to fight till the end, while Bangladesh and Vietnam seem to be bowing down to America.
Taiwan and South Korea are looking for a way to negotiate, but Trump is not ready to back down. The Indian stock market jumped 1.5% on Tuesday, but the rest of the world is in crisis.
China is making a strategy to fight Trump's tariff
Donald Trump Tariff Live: China has opened a front against America. On Tuesday, China's government planner held a meeting with the country's big private companies - Trina Solar, ride-hailing company Didi and GoArtek. This meeting was held to get suggestions to deal with Trump's new tariff.
These companies were asked how to respond to America's additional tariff, so that China's economy can be saved. This step shows that China is no longer just making statements but making a solid strategy.
America should talk to China
Donald Trump Tariff Live: A big voice has come from China against this trade war. On Tuesday, Henry Wang, founder of the Center for China and Globalization, challenged Trump on BBC Radio 4's Today program. Wang said that the US should call China to the negotiating table and explain why it started this 'unfounded' and 'immoral' trade war.
He warned, 'If America started this war, then it will have to answer to China.' He also said that America should not cry about losing jobs, because it itself abandoned its manufacturing.
Good signs for European stock market
Donald Trump tariff live: After more positive performance from Asian markets, there are signs that European stocks will also see a jump this morning. Rachel Winter, partner and investment manager at Killick & Co, said in a conversation with the BBC that 'it is going to be a better day.'
Also Read: Australian Stock Market Rises as Banks and Miners Lead Recovery
Summary
Stock markets around the world have seen a huge drop due to China and the European Union's retaliation. Oil prices also fell. The Indian stock market was positive on Tuesday.
Also Read: Asian Stocks Gain After Wall Street Wobbles on Tariff Threats
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