BBCNEWS Business Briefing July 14, 2024
We will start with the us china trade war because President Trump has announced a major escalation in us tariffs on chinese goods, saying that china has broken its promises made in negotiations. The announcement has rocked markets as we saw a moment ago, sending stocks and commodities tumbling. Here is what has them so worried. Resident tom says that from september one, the us will impose a 10 tariff on 300 billion worth of chinese imports that are not already subject to us taxes. This comes on top of the 25 tax already imposed on chinese goods worth 250 billion a year. But they will hit consu...