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Categories:

Hot right now:

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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

China Tariffs 125% on U.S. Goods After Trump Raises Duties to 145%

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China's Retaliatory Tariffs Shake Global Markets, Bitcoin Dips To $82K

The post China Tariffs 125% on U.S. Goods After Trump Raises Duties to 145% appeared first on Coinpedia Fintech News

China tariffs on US goods are now raised to 125% as the trade war escalates between US and China with no signs of slowing down. This comes shortly after President Trump increased duties on Chinese imports to 145%.

Notably, the announcement also included that if the US continues to impose tariffs on Chinese goods exported to the US, China will ignore it. Notably, the increase comes after China, with the second-largest economy and leading US import source, faces continued pressure from the White House.

“The abnormally high tariffs imposed by the US seriously violates international and economic trade rules, basic economic laws and common sense and is completely unilateral bullying and coercion“, noted Beijing’s State Council Tariff Commission in a statement shared by the finance ministry. The new levy comes into effect on Saturday.

This comes hours after President Xi Jinping asked the European Union to team up with China to fight against the Unilateral bullying. “China and Europe should fulfil their international responsibilities… and jointly resist unilateral bullying practices,” he said.

Meanwhile, the German Finance Minister Joerg Kukies says that the European Union is currently in a good position to negotiate with the U.S. over tariffs, as there’s still a lot of time to reach a deal. However, he warned that if the talks don’t lead to a fair solution, then EU will have to consider other response options.

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