China will raise tariffs on some US goods from June 1 - ForexLive

China hits back

China to raise tariffs on US goods.

They plan to set import tariffs on $60 billion worth of US goods. The tariffs will range from 5%-25%.

Reports also say China may stop purchasing US agricultural products and energy, cut Boeing orders and restrict US service trade with China. The Global Times reports that Chinese scholars are discussing the possibility of dumping US Treasuries and how to do it specifically.

Headlines are just crossing but the Australian and Canadian dollars are down to session lows. US stock futures are falling, with S&Ps down nearly 50 points.

This is starting to look dire. Trump is dead-set on tariffs and China has decided it can take the pain.

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https://www.forexlive.com/news/!/china-says-to-raise-tariffs-on-some-us-goods-from-june-1-20190513

2019-05-13 12:09:00Z
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