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Economy

China warns of retaliation after Trump threatens fresh tariffs

Updated : August 02, 2019 03:06 PM IST

Trump on Thursday stunned financial markets by saying he plans to levy the additional duties from Sept. 1, marking an abrupt end to a truce in a year-long trade war that has slowed global growth and disrupted supply chains.
Possible retaliatory measures by China could include tariffs, a ban on the export of rare earths and penalties against US companies in China, analysts say.
The new tariffs will jack up prices for consumers at the start of the back-to-school buying season, four large retail trade associations said on Thursday.
China warns of retaliation after Trump threatens fresh tariffs

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