Trade War: China not giving up as country’s officials unleash personal attack on U.S. President Donald Trump - Alldamoney

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Trade War: China not giving up as country’s officials unleash personal attack on U.S. President Donald Trump

As China and the US both are griped in a trade war that sees each other lying tariffs on goods. Debates are on the rise on how the issue could be resolved, the U.S. and China furthermore, have a total 32 on-going disputes at the World Trade Organization over tariffs.

Add to the ongoing rumor in Washington that the current U.S Administration will raise taxes on US$200 billion worth of Chinese goods imports to 25cent from 10cent, raising the stakes again in a progressing war exchange poker. Even though Washington's raising of the stakes portrays that the White House feels it's holding a triumphant hand in the war.

Chinese state media meanwhile released a strangely ruthless and individual assault on U.S. President Donald Trump, raising speculator worries that the dangers from the U.S.- China exchange war could derail worldwide development and growth projections.

This came after the Chinese government's declaration on Friday that a rundown of conceivable levies could influence imported products. The duties extend from 5% to 25% on $60 billion worth of U.S. horticultural, metal, and synthetic products. The levies would become effective if the U.S. follows through on its word to raise levies to 25% on some $200 billion worth of Chinese products.

Meanwhile, President Donald Trump said the U.S. still has a higher stand in the war, but most economic and financial specialists, don’t agree with him though.  "China needs to safeguard its entitlement to advancement, and while America don't fear giving on few present interests," The Global Times wrote in a publication noted "The U.S. is attempting to round up the trade tussle quickly, yet China is set up for an extended war… In future, the U.S. economy will depend more on the Chinese market than the other way.

In the midst of the ongoing U.S.- China trade war, the two noteworthy stock exchanges in China have lost one-fourth of their gain from  this year.

While the U.S. - benchmark, the S&P 500, is nearing a crisp record In the meantime.

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