China to impose tariffs on $60 Billion of US goods, currency now suspected weapon as domestic bankruptcies rise

There is a lot going on in China because of the US trade war right now. So this post isn't going to be all-encompassing. But the long and short of it is that China has decided to go all-in in its trade war with the US. And that means it has also been forced to add stimulus to its domestic economy to prevent economic growth from flagging.
China's tariffs
The commerce ministry has said China would impose tariffs on $60 billion worth of US goods. Here's the Wall Street Journal on the news:
In a statement issued late Friday, China’s cabinet said the government is preparing to impose duties at levels of 25%, 20%, 10% and 5% on some 5,207 American goods.

“The implementation date of the taxation measures will be subject to the actions of the U.S., and China reserves the right to continue to...


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