Trade Wars: Breaking News.
The heads of the world's largest central banks - the Fed, the ECB, the Reserve Bank of Australia and the Bank of Japan - at the summit in Portugal on June 18-20, said that trade wars (read - unleashed by Trump) - can significantly worsen the state of the world economy: trade conflicts will hit the financial markets - it will hit the economy - and make the central bank to stop the policy of super-cheap money, which they just started now.
China on Thursday, June 21, again said that it is fully ready to respond to new tariffs imposed by the United States - "both quantitatively and qualitatively" - yesterday the US administration said it was preparing a list of goods from China worth $200 billion to impose a duty of 10% (China will not be able to impose duties on goods from the United States on the same amount - China buys goods from the United States for no more than $150 billion - the US buys goods from China much more).
On Thursday, India said it would impose tariffs on goods from the US - in response to duties on steel and aluminum imposed by Trump.
The EU promised to introduce from June 22 tariff on goods from the US worth $3.6 billion - motorcycles Harley Davidson, whiskey Bourbon, American jeans.
