China has hit back hard against Donald Trump’s “bullying” tariffs, raising fears that the escalating trade war could trigger a global recession and prompting fresh turmoil in financial markets.
Beijing retaliated on Friday with punitive 34% additional tariffs on all goods imported from the US – mirroring the US decision and exacerbating a sell-off on global stock markets.
Almost $5tn (£4tn) has been wiped off the value of global stock markets since Trump’s Rose Garden address on Wednesday evening, analysts calculated.
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Walmart’s low low price are in trouble with these tariffs!
Hopefully the government bails out the Waltons so they can keep trickling down on us.
