The announcement of tariffs ranging from 5 to 25 percent on U.S products – consisting of cars, soybeans and oils – has caused American future stocks to nose dive. Some of the tariffs will come into effect on September 1, but the rest will be enforced on December 15. The new measures have also revived concerns that the clash between the world’s two biggest economies could impact global growth.
How have the U.S responded? The White House is relaxing concerns, with Trump adviser Peter Navarro reassuring Fox Business Network that the new tariffs will not slow down growth.