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China's wealthy lose 50 billion dollars in two days


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China's wealthy lose 50 billion dollars in two days

Post by rocky on Sun 24 Jun 2018, 2:46 am

[size=32]China's wealthy lose 50 billion dollars in two days[/size]


US President Donald Trump's announcement of new tariffs on Chinese goods has led to a sharp drop in the wealth of Chinese billionaires on Forbes' list.

[rtl]On June 19,  Donald Trump  announced a 10% surcharge on the import of Chinese goods worth $ 200 billion.[/rtl]
[rtl]Five days earlier, Washington imposed a 25 percent charge on a number of Chinese goods, and China responded by pledging duties on imported US goods.[/rtl]
[rtl]But billions of Chinese people were the first victims of the major trade war between Beijing and Washington. After Trump's comments on June 20 and 21, the total wealth of Chinese billionaires shrank from $ 1.155 trillion to $ 1.05 trillion.[/rtl]
[rtl]On April 3, the United States published a list of 1,300 Chinese goods and said it would impose customs duties at 25 percent.[/rtl]
[rtl]The list includes medicines, medical equipment, aircraft engines, robots and LEDs.[/rtl]
[rtl]China responded with a list of 106 commodities, including soybeans, automobiles, petrochemicals and aircraft, with a fee of $ 50 billion on both lists.[/rtl]
[rtl]According to experts, the US Congress may intervene from time to time to disrupt agreements, which at first glance seems to be undisputed, as happened with the Chinese giant ZTE on June 19, as Congress blocked the US government agreement with ZTE under the pretext of violating recent sanctions against Iran and North Korea .[/rtl]
[rtl]The company tried to stick to the US market and was prepared to pay a fine of more than one billion dollars, but Congress considered that this is not enough.[/rtl]


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