Trump threw global financial markets into turmoil with Sunday’s threat to raise import duties on $200 billion of Chinese goods from 10% to 25%. Trump complained talks were moving too slowly and said Beijing was trying to backtrack on earlier agreements. “China deeply regrets that if the U.S. tariff measures are carried out, China will have to take necessary countermeasures,” said a Commerce Ministry statement. Trump raised duties on $250 billion of Chinese imports starting in July over complaints Beijing steals or pressures companies to hand over technology. Chinese authorities already have extended retaliation beyond imports by targeting operations of American companies in China.

Source: National Post May 09, 2019 02:23 UTC