SoylentNews

realDonaldTrump [soylentnews.org] writes:

"When a country (USA) is losing many billions of dollars on trade with virtually every country it does business with, trade wars are good, and easy to win." -- President Donald J. Trump

"At 12:01 a.m., the U.S. slapped a 25 percent tax on $34 billion worth of Chinese imports.

China was set to hit back with taxes on an equal amount of U.S. products, including soybeans, lobsters, sport-utility vehicles and whiskey." foxnews.com/world/2018/07/06/us-china-trade-war-official-starts-as-tariffs-imposed-on-34b-in-chinese-goods.html [foxnews.com]

"Russia said Friday it would impose extra duties on some U.S. imports in response to U.S. tariffs on Russian goods, according to Reuters.

The nation's Economics Ministry said the new tariffs, which would range from 25% to 40%, would be applied to products for which there are Russian substitutes.

Among those products are fiber optics, equipment for road construction, oil and gas industry items, metal processing and mining." foxbusiness.com/politics/russia-retaliates-against-us-with-tariffs-on-american-goods [foxbusiness.com]

Original Submission