• Nick Bozhilov

US-China trade war escalates

The USA has increased with 25% the tariffs it imposes on Chinese goods as trade talks between the two countries didn't produce a deal many hoped for.

The new tariffs were implemented on Friday at 00:01am. The higher tariffs will be in effect only for goods that have left China after that time and containers currently moving between the two countries will not have to pay more.

Overall, the US has imposed higher tariffs on $200bn worth of goods and has raised them with 15% from 10 to 25%. The Chinese government said it deeply regretted they couldn't reach an agreement and that it will take countermeasures.

Investors are worried that the new increase will slow down the world economy even more and will put a lot of pressure on companies.

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#USA #China #tradewars

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