Donald Trump, US president, believed that #America has been losing hundreds of billions of dollars a year to #China, with no end in the continuous unfair trading relationship. #Trump declared that China should not put new #tariffs (5%~10%) on 75 billion dollars of US products and to retaliate this tariff, Trump ordered new rules as follow:
- The 250 billion dollars of products from China that currently being taxed at 25%, will be taxed at 30% additionally (Starting on October 1st)!
- The remaining 300 billion #dollars of goods from China, which was being taxed from September 1st at 10%, will now be taxed at 15%!
These news will influence on #global_financial_markets and cause them to fall at the start of new week on Monday 26 August.