This morning in metals news, Trump announces $50 billion in tariffs on Chinese goods, China responds to warn retaliatory tariffs are imminent and E.U. members are supportive of retaliatory measures against the U.S.’s Section 232 tariffs.
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Trump Announces $50M in Tariffs on China
In line with media reports earlier this week, President Donald Trump announced Friday that the U.S. will impose $50 million in tariffs on Chinese goods, particularly related to technology, Reuters reported.
China Says Retaliatory Tariffs Coming
On the heels of the U.S. tariff announcement, China says it plans to impose tariffs of the “same scale,” according to a CNBC report.
E.U. Keen on Payback for Steel Tariff
Speaking of retaliation, E.U. nations are ready to retaliate agains the U.S. and its 25% steel tariffs, Reuters reported.
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E.U. countries unanimously voted in support placing import duties of $3.3 billion of U.S. goods.