Donald Trump escalate trade war by tweet on late Friday, declares that China is taking many advantages of the United States, which is sustain on powerful economic growth and import-export.
US president Donald Trump ordered that he will increase TAX on multiple products from China upto 30 per cent from October 1.
Dow Jones and S&P indexes are sharply fell on Friday due to the reaction of Donald Trump Tweet:
Donald Trump said China products which are hit with a 10 percent Tariff with September 1.
As per latest reports, Tariff will 15% as per latest reports from Politico.
China is against and increased their tariffs on American Products of estimated business of $US75 Billion with their new tariffs.
The rising tension between US and China which makes global economy tension and slowdown due to trade war. This two biggest economies investors are scared out of it.
Developments on highly anticipate speech from Federal Reserve Chair Jerome Powell, in which he reiterated a pledge the central bank would act as appropriate.
Trump said he would not stand in the way of Federal Reserve chief Powell if he is ready to quit.
Trump told reporters: “If he did, I wouldn’t stop him.
On Friday, Trump said Powell as a bigger “enemy” than China, with whom he has been conduct a trade war.