Global Markets: Trump threatens China with new tariffs

By Commodity News Service Canada

July 11 (CNS Canada) — The following is a glance at the news moving markets in Canada and globally.

– U.S. President Donald Trump is threatening to push the trade dispute with China to new levels by imposing tariffs of 10 percent on US$200 billion worth of Chinese products. China called the threats “typical bullying” and vowed to retaliate. Last week, the U.S. imposed 25 percent tariffs on US$34 billion worth of Chinese imports, to which China responded with matching tariffs.

– U.S. President Donald Trump met in Brussels for a meeting with leaders of NATO countries and traded barbs with German Chancellor Angela Merkel. Trump said Germany was “totally controlled by Russia” for Germany’s support of a Russian pipeline. Merkel defended the pipeline saying it is a private commercial project, and said she spent her youth in Soviet-controlled East Germany and is glad to live in a united, free country capable of independent decisions.

– Rescuers managed to free all 12 boys and their soccer coach from flooded caves in northern Thailand. They are reported in good condition, although a few pounds lighter from having eaten no food for nine days before they were found.

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