China announces 50 per cent rise on tariffs for US goods
After plenty of mud-slinging, China has announced a massive manoeuvre to hit back at Donald Trump after its currency dipped dramatically.
After plenty of mud-slinging, China has announced it will raise its tariff on US goods from 34 per cent to 84 per cent starting tomorrow.
The increase matches the additional 50 percent tariff recently added by the Trump administration.
It comes as the yuan ended domestic trading today at 4.3498 to the dollar, the lowest it has been in 17 years.
China’s Foreign Ministry spokesperson Lin Jian promised “firm and forceful” measures to combat the US today, shortly after China’s commerce ministry vowed to “fight them until the end”.
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