In a bid to reach a long-sought trade deal with China, US-President on Sunday vowed to levy a higher tariff on some of the Chinese goods. Due to productive discussions with China, the US early this year delayed tariff increases on China.
Trump To Increase Tariff On Some Of Chinese Goods
Tracking such a development, oil declined in price by almost 2%, almost most of the Asian markets are trading down taking cues from the development in the US.
On Twitter, Donald Trump said that there will be a tariff hike to 25% on Friday and more Chinese goods will face additional tariffs.
With the announcement, expectations on the front that positive trade talks between the 2 nations will end the trade war situation that brought about global slowed and disrupted the world economy, have gone for a toss.
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