China slapped 84% revenge tariffs in US goods during the big new rise hours after applying 104% tax on Trump – as a global financial markets tank

The Ministry of Finance said on Wednesday that Xi Jinping will apply 84% of tariffs to US goods from Thursday, China’s Thursday.

The Ministry said that these changes will come into force from the local time (UK time) at midnight 10 April.

He added that he has put export controls to 12 American companies and added six more US companies to the ‘unreliable assets’ list, which is forbidden to do business with China or Chinese companies.

These companies have not yet been announced.

This is the latest rise in the rapidly growing trade war between the United States and China, after US President Donald Trump slapped the imports from Xi Jinping’s country with a 104% tax.

The Levis were part of the collective imposition of mutual tariffs on American trade partners accused of exploiting the United States.

Imports from almost all nations in the world were hit with a 10% tax and Trump’s administration increased the percentage based on trade deficits.

Trump’s tariffs caused global markets to collapse to a great extent. To date, FTSE, an index fund that details the value of the 100 largest companies in the UK, has fallen 100%3.3%.

While Germany’s DAX fell by 4%, the French CAC fell 40%4%. US index funds are expected to fall when they open at 14:30 at the UK time.

China told the World Trade Organization today that the US decision to impose these mass tariffs threatened to further destabilize global trade.

The situation increased dangerously. … As one of the affected members, China expresses great concern and a solid opposition to this reckless movement, ‘China said on Wednesday to the WTO, sent to Reuters by China’s duty to the DTO.

The financial world was shaken by Trump’s tariffs and began to seriously question his decisions.

Dario Perkins, an economist in TS Lombard, a macroeconomic estimate consulting company, Bloomberg At the beginning of this week: ‘For the first time in my career, I am a widespread suspicion of the adequacy of US policy makers.

‘This is not about politics … And this is not about’ policy mistakes’ … About recklessness.

‘Therefore, many global investors compare the UK’s “Liz Truss moment”.

In the early hours of today, the UK Bank said Trump’s tariffs have contributed to a significant increase in the risk of global growth and financial stability.

In the financial stability report of the Central Bank, which was published hours before China’s announcement of retaliation tariff measures, the economic hostility between the US and other nations increased ‘uncertainty for inflation’ globally.

However, ‘British households and corporate debtors remain flexible’ emphasizing, the economy ‘even if the time is worse than expected’ British banks can still support households and enterprises ‘decided to continue’.

More to follow.