China has just announced it will impose 5% to 10% tariffs on $75 billion of goods (including frozen pork and nuts) along with resuming the 25% duty on US automobiles and auto parts from 15th December. Some tariffs will come into effect on 1 September while others will kick in around 15 December. What's interesting to note here is that the market was not expecting this tariff retaliation given that China did not immediately react to the 10% US tariffs on $300 billion goods and President Trump's unexpected tariff delays to 15 December. But even though China's tariffs are smaller than what the US has imposed, the sudden ... (full story)