Economies Retaliation: Chinese Exports and Trade Talks

economies retaliation: That comes after the United States hiked tariffs from 10% to 25% on 200 billion worth of Chinese exports on Friday following a breakdown in trade talks between the world's top two economies, according to CNN. Retaliation by China came as little surprise. China said it would raise tariffs on 60 billion worth of US goods from June 1. Larry Kudlow, President Donald Trump's top economic adviser, said Sunday that US officials expected China to retaliate for the tariff hike the Trump administration imposed last week. Asian stocks dipped lower on Monday, with Japan's Nikkei Index N225 dropping around 0.7% and the Shanghai Composite Index SHCOMP closing more than 1% lower. China will never yield to external pressure and is determined to protect its rights, a spokesperson for the Ministry of Foreign Affairs, Geng Shuang, said earlier Monday. (news.financializer.com). As reported in the news.