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Donald Trump to outdo China with tariffs; wait, reports say Xi Jinping to sanction over 80 Fortune 100 companies to the tune of multi-billion dollars
The Feed Last Updated: Jan 16, 2025, 03:19:00 AM IST
Synopsis
Donald Trump is currently planning to put extreme pressure on China and its economy by imposing strong tariffs when he comes to power at the White House. However, it looks like Xi Jinping has some tricks up his sleeve as well to counter Trump’s attempts iStock Will Trump tariffs hit the Chinese economy badly? The fight between Xi Jinping and Donald Trump around trade and exports will see new highs after January 20, when Trump takes office as the US President. For starters, Trump is planning on imposing a whopping 60% tariff on products brought into the US from China, something that could expectedly weaken the demand for Chinese-made products in the US, and help in advancing local industry products.
Will Trump tariffs hit the Chinese economy badly? However, this move by Trump could prove to be quite costly for China as their national currency, Yuan, may suffer the wrath of this trade war between both countries. Meanwhile, Xi Jinping is planning to counter this Trump tariff with numerous sanctions against more than 80 Fortune 100 companies, which could amount to billions of dollars.
Why is Xi Jinping trying to target Fortune 100 companies? Hefty fines and sanctions on US companies from China’s end would jeopardize American business in China, and some even believe that it could help in countering all t
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