US-China trade war heats up with tariffs
United States President Donald Trump has signed an order calling for up to $60 billion in new tariffs关税 on Chinese imports.The order seeks to punish China for, in his words, the theft of American "intellectual property," including inventions and research. The action also calls for restrictions on the transfer of technology to China.
In fact, 45 U.S. trade associations, representing retail, technology, agriculture and other consumerproduct industries, urged the administration not to move forward its tariff plan on Chinese imports, as it would hurt U.S. consumers and companies.
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• The Dow Jones Industrial Average plunged more than 700 points today amid Wall Street fears of a potential trade war with China sparked by punishing tariffs announced by President Donald Trump.