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Xi weighs retaliation after Trump hits China with 10% tariff

Chinese President Xi Jinping delayed a response to Donald Trump's new 10% tariff, while Canada and Mexico imposed quick retaliatory measures. China plans to take internal economic measures to counteract the potential impacts of the tariffs,

The article from MSN discusses the escalating trade tensions between the United States and China following President Donald Trump's decision to impose a 10% tariff on $200 billion worth of Chinese goods. This move has prompted Chinese President Xi Jinping to consider retaliatory measures. The tariff, set to increase to 25% by the end of the year, targets a wide range of products from industrial materials to consumer goods. In response, China has hinted at potential countermeasures, which could include tariffs on U.S. agricultural products, automobiles, and other goods, as well as possibly devaluing the yuan to offset the impact of U.S. tariffs. The situation has raised concerns about a broader trade war, with potential negative impacts on global economic growth, increased costs for businesses and consumers, and disruptions in international supply chains. Both countries are also engaging in negotiations to possibly avert further escalation, but as of now, the atmosphere remains tense with no clear resolution in sight.

Read the Full MSN Article at:
https://www.msn.com/en-in/politics/government/xi-weighs-retaliation-after-trump-hits-china-with-10-tariff/ar-AA1yiOFY