Trump slams China with further tariffs

Friday, 2 August 2019 10:04

Donald Trump has announced that he will impose fresh tariffs on China.

The US President says they’ll soon be a further 10 per cent fee on another AED 1 billion worth of Chinese goods

The new tariffs will be in effect from September 1.

Experts say the US will now essentially tax all Chinese imports to the USA.

The move comes despite high-ranking trade officials from the USA and China holding meeting in Shanghai.

It’s the latest development in what us a bitter trade war between the two countries that is hurting markets worldwide.

More from Business

Dubai Customs ‘Green Corridor’ handles surge in trade amid shipping disruption

Dubai Customs said on Sunday a trade corridor launched with Oman earlier this year has processed nearly AED8 billion worth of goods in a single month as regional shipping disruptions continue to affect supply chains.
LVMH to sell Marc Jacobs to WHP Global, G-III as buyers raise $850 million

French luxury group LVMH has agreed to sell fashion brand Marc Jacobs to a joint venture between brand manager WHP Global and apparel company G-III Apparel Group, which are raising up to $850 million to fund the deal, the companies said on Thursday.
India caps duty-free gold imports for jewellery exporters to curb demand

India on Thursday tightened rules for duty-free gold imports for jewellery exports by capping imports at 100 kg per licence, the government said in an order.
Warsh wins confirmation as Fed chair, with inflation on the march

The US Senate on Wednesday voted to confirm Kevin Warsh as the chair of the Federal Reserve, paving the way for the lawyer, financier and former central-bank governor to take the reins of the Fed.
Dubai Taxi Company to acquire National Taxi

Dubai Taxi Company (DTC) has announced a major expansion deal, signing an agreement to acquire National Taxi, one of the UAE’s established taxi operators, in a transaction valued at AED 1.45 billion.