Uncertainty Ahead in Global Economy
Many are voicing their deep concerns on disruptions in global supply chains and further pressures on the global economy. Such was the general global response to the latest development of the US-triggered trade war against China.
A woman and a child pass Chinese brands of flat screen TVs on display at a hypermarket in Beijing, Wednesday, July 11, 2018. China\'s government has criticized the latest U.S. threat of a tariff hike as "totally unacceptable" and vowed to retaliate in their escalating trade war. The Commerce Ministry on Wednesday gave no details, but Beijing responded to last week\'s U.S. tariff hike on $34 billion of imports from China by increasing its own duties on the same amount of American goods.
BEIJING, TUESDAY – Many are voicing their deep concerns on disruptions in global supply chains and further pressures on the global economy. Such was the general global response to the latest development of the US-triggered trade war against China. Beijing has said that it will be prepared to retaliate over Washington’s new import tariff plans.
Japanese Finance Minister Taro Aso warned that global trade imbalances must be fixed to avoid another financial crisis. He also voiced Japan’s regret over the US imposition of new tariffs on China, saying that this may harm the global economy and lead to unintended consequences on other countries. Product sales of Japanese companies may also be harmed by disruptions in the global supply chains.