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Trade Service
The U.
S.
has announced tariffs on Chinese goods, imposing tariffs
on $34 billion worth of Chinese goods on Friday at 12:01 a.
m.
ET (0401 GMT).
This means that the trade war between the world's two largest economies, the United States and China, has officially begun
.
Oil markets also opened cautiously lower
on Friday.
International Brent crude futures at 0043 GMT were trading at $77.
18 a barrel, down 21 cents or 0.
3%
from the last close.
U.
S
.
West Texas Intermediate (WTI) crude futures fell 6 cents, or 0.
1 percent, to $72.
88 a barrel.
The Chinese side has already said, "The United States provoked this trade war, we do not want to fight, but in order to protect the interests of the country and the people, we have to fight
if necessary.
" China will never fire the first shot, but if the United States imposes tax measures, China will be forced to retaliate
.
”
U.
S.
President Donald Trump said Thursday that the U.
S.
could eventually impose tariffs on more than $500 billion worth of Chinese goods, which could become a full-blown trade war
.
Greg McKenna, chief market strategist at futures brokerage AxiTrader, said, "Things will get worse
before trade between the U.
S.
and China gets better.
" ”
The U.
S.
has announced tariffs on Chinese goods, imposing tariffs
on $34 billion worth of Chinese goods on Friday at 12:01 a.
m.
ET (0401 GMT).
This means that the trade war between the world's two largest economies, the United States and China, has officially begun
.
Oil markets also opened cautiously lower
on Friday.
International Brent crude futures at 0043 GMT were trading at $77.
18 a barrel, down 21 cents or 0.
3%
from the last close.
U.
S
.
West Texas Intermediate (WTI) crude futures fell 6 cents, or 0.
1 percent, to $72.
88 a barrel.
The Chinese side has already said, "The United States provoked this trade war, we do not want to fight, but in order to protect the interests of the country and the people, we have to fight
if necessary.
" China will never fire the first shot, but if the United States imposes tax measures, China will be forced to retaliate
.
”
U.
S.
President Donald Trump said Thursday that the U.
S.
could eventually impose tariffs on more than $500 billion worth of Chinese goods, which could become a full-blown trade war
.
Greg McKenna, chief market strategist at futures brokerage AxiTrader, said, "Things will get worse
before trade between the U.
S.
and China gets better.
" ”
