"Sea Of Red" - China Stocks, Commodities Crash As Trade Wars Escalate

Following the US imposition of 25% duties on China produce worth at least $50 billion including items in aerospace, information and communication technology and machinery, China has announced plans of reciprocal tariffs on $3 billion of U.S. imports.

China plans to add 15% tariffs on U.S. steel pipes, fruit, wine and other products, the Ministry of Commerce says in a statement, and also plans to add 25% tariffs on pork and recycled aluminum.

Bloomberg provides some more details on the list of goods China will be targetting...

1) fresh fruit, dried fruit and nuts

2) wine

3) denatured ethyl alcohol

4) American ginseng

5) seamless steel pipes

6) pork and pork products

7) aluminum scrap

Who knew America exports ginseng to China?

In the statement, China urged the U.S. to resolve the trade dispute via dialogue.

The reactions are ugly.

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