China hits back at Trump’s sweeping tariffs

trump-xiPresident Donald Trump launched the next salvo in his widening war on Chinese trade abuses, Trump took the first step towards slapping as much as $60 billion in tariffs with China, which raised fears for a trade war on Wall Street.

China hits back at Trump’s sweeping tariffs, planning measures against $3 billion of U.S. steel, aluminium, pork and wine imports, retaliating against President Donald Trump’s move to put levies on Chinese imports.

The stock market tanked Thursday because Donald Trump wants a trade war with China. Dow plummets more than 700 points as Trump’s China tariffs ignite fears of a trade war.

Trade sanctions on China have hit The US and European markets and even the Indian stock exchange indices have fallen sharply. The Sensex lost over 450 points and the Nifty fell to 10,000 mark.