China retaliates by raising tariffs on US goods to 125%

Well, for most of the day, losses in Asia concentrated in both Tokyo and here in Seoul for really two reasons. First of all, the tariffs are still in place from the United States on imported cars, steel and aluminum. That has *** huge effect on the economies in Japan and in South Korea. And also for the second bucket, there's the realization that even though the White House is signaling it wants to make *** deal with Both Japan and South Korea deals like this for very complicated economies take time. Usually under normal circumstances they can take years to hammer out. So all of this uncertainty spelling trouble in the US bond market, the 30-year Treasury yield reaching around 4.95%, which is the largest weekly increase since 1982. According to numbers computed by Reuters, 10 year Treasury yield around 4.5% *** day earlier is around 4.28%. So now the question is who talks to whom reporting coming from CNN's team at the White House indicating that President Trump's team is not willing to engage in *** phone call with Beijing first. It is waiting for Xi Jinping. And his team to initiate *** high level reach out. Now in terms of reaction we're going to hear from the former Treasury Secretary under the Biden administration, Janet Yellen, as well as Trump advocate Trump ally Kevin O'Leary, Kevin O'Leary, *** Canadian businessman. You might know him from Shark Tank. Listen in. This is the worst self-inflicted wound that I have ever seen in an administration impose on *** well functioning economy. What Yellen forgot to tell you there is um China does *** lot of IP theft and has for decades has never ever uh been compliant with the WTO since 2000 when they went in and the amount of theft they do in Europe and the United States. In terms of IP and then produce those products and sell them back in those markets at discounted prices because they don't have to pay for R&D. Um, it's beyond abusive. So the question now is where do we go from here? Beijing is signaling that it is open to talks. The latest comments that we have coming from the Chinese Commerce Ministry say in part, quote, the door to talks is open, but dialogue must be conducted on the basis of mutual respect and And equality again that from *** spokesperson from the Chinese Commerce Ministry. Also, Chinese President Xi Jinping is off to Vietnam, Cambodia, and Malaysia as he tries to garner more allies to his cause, leading the fight against these US tariffs. Back to you.

China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% �� the latest salvo in an escalating trade war between the world's two largest economies that has rattled markets and raised fears of a global slowdown.While U.S. President Donald Trump paused import taxes this week for other countries, he raised tariffs on China and they now total 145%. China has denounced the policy as “economic bullying" and promised countermeasures. The new tariffs begin Saturday.Washington's repeated jacking up of tariffs “will become a joke in the history of the world economy,�� a Chinese Finance Ministry spokesman said in a statement announcing the new tariffs. “However, if the U.S. insists on continuing to substantially infringe on China’s interests, China will resolutely counter and fight to the end.”China’s Commerce Ministry said it would file another lawsuit with the World Trade Organization against the U.S. tariffs.Trump's on-again, off-again measures have caused alarm in stock and bond markets and led some to warn that the U.S. could be headed for a recession. There was some relief when Trump paused the tariffs for most countries �� but concerns remain since the U.S. and China are the world's No. 1 and No. 2 economies, respectively.The trade war between the U.S. and China “could severely damage the global economic outlook,�� the head of the WTO, Ngozi Okonjo-Iweala, said earlier this week.Chinese tariffs will affect goods like soybeans, aircrafts and their parts and drugs �� all among the country's major imports from the U.S. Beijing, meanwhile, suspended sorghum, poultry and bonemeal imports from some American companies last week, and put more export controls on rare earth minerals, critical for various technologies.The United States' top imports from China, meanwhile, include electronics, like computers and cell phones, industrial equipment and toys �� and consumers and businesses are likely to see prices rise on those products, with tariffs now at 145%.Trump announced on Wednesday that China would face 125% tariffs, but he did not include a 20% tariff on China tied to its role in fentanyl production.White House officials hope the import taxes will create more manufacturing jobs by bringing production back to the United States �� a politically risky trade-off that could take years to materialize, if at all.

BEIJING —

While U.S. President Donald Trump paused import taxes this week for other countries, he raised tariffs on China and they now total 145%. China has denounced the policy as “economic bullying" and promised countermeasures. The new tariffs begin Saturday.

Washington's repeated jacking up of tariffs “will become a joke in the history of the world economy,�� a Chinese Finance Ministry spokesman said in a statement announcing the new tariffs. “However, if the U.S. insists on continuing to substantially infringe on China’s interests, China will resolutely counter and fight to the end.��

China’s Commerce Ministry said it would file another lawsuit with the World Trade Organization against the U.S. tariffs.

Trump's on-again, off-again measures have caused alarm in stock and bond markets and led some to warn that the U.S. could be headed for a recession. There was some relief when Trump paused the tariffs for most countries �� but concerns remain since the U.S. and China are the world's No. 1 and No. 2 economies, respectively.

The trade war between the U.S. and China “could severely damage the global economic outlook,�� the head of the WTO, Ngozi Okonjo-Iweala, said earlier this week.

Chinese tariffs will affect goods like soybeans, aircrafts and their parts and drugs �� all among the country's major imports from the U.S. Beijing, meanwhile, suspended sorghum, poultry and bonemeal imports from some American companies last week, and put more export controls on rare earth minerals, critical for various technologies.

The United States' top imports from China, meanwhile, include electronics, like computers and cell phones, industrial equipment and toys �� and consumers and businesses are likely to see prices rise on those products, with tariffs now at 145%.

Trump announced on Wednesday that China would face 125% tariffs, but he did not include a 20% tariff on China tied to its role in fentanyl production.

White House officials hope the import taxes will create more manufacturing jobs by bringing production back to the United States �� a politically risky trade-off that could take years to materialize, if at all.

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China retaliates by raising tariffs on US goods to 125%

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