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Chinese and American flags fall near the Bund, before the trade delegation meet with Chinese colleagues for talks in Shanghai, China, July 30, 2019.
Ali song | Reuters
The Chinese Finance Ministry said on Friday that a 34% tariff for all goods imported from the United States, starting on April 10 after the duties imposed by US Presidential Administration Donald Trump earlier this week, Xinhua’s state news reports.
“China urges the US to immediately cancel its unilateral tariff measures and resolve trading differences by consulting equal, respectful and mutually beneficial form,” the Ministry of Finance referred to the Ministry of Finance, saying it was transferred to Google, transferred to Google report.
The ministry also criticized the Washington’s decision to impose 34% of additional mutual levies in China – leading common tariffs to the country to 54% – as “contradictory rules of international trade” and “seriously” undermined Chinese interests, and threaten “global economic development and stability.”
CNBC turned to the White House for comments.
US futures fell to its session lows after China announced the penalties. Contracts related to Dow Jones Industrial Medium were down 900 points or 2.2%. S&P 500 and Nasdaq-100 Futures decreased by 2.3% and 2.6%. Accordingly.
European stocks also fell abruptly on news. Initial Stoxx 600 The index was 4.5% lower by 11:27 am in London, increasing the previous losses, and the European banking sector decreased by 9.5%.
. Bishop Katrina CNBC contributed to this report.
This broken news is updated.
