US-China trade battle: Catch up here
April 4, 2018 — China warns of tariffs on another $50 billion in American goods
The Chinese government announces yet another set of retaliatory tariffs that nearly mirror the Trump administration’s proposal a day earlier — 25% on a range of products from the US, worth approximately $50 billion.
The 106 products on China’s list include aircraft and automobiles as well as soybeans and chemicals.
Global markets have been hit hard by the Chinese announcement, as have the products on the list and the companies making them.
list and the companies making them.
April 5, 2018 — Trump calls for targeting another $100 billion in Chinese goods
The stock market enjoys a day of gains as investors warm to the idea that most of the back-and-forth between Beijing and Washington is nothing but talk.
But Trump then makes a late-day statement calling for the broadest wave of new tariffs yet — $100 billion worth. He asks US Trade Representative Robert Lighthizer to look into which products his administration can target.
China warns it would retaliate to any additional tariffs, saying it has “already formulated very detailed countermeasures.”
US stock markets are rattled. The Dow closes down 572 points, or 2.3%, on April 6 after falling as much as 767 points earlier in the day.