All the day’s economic and financial news, as Washington and Beijing impose 25% tariffs on billions of dollars of each other’s exportsLatest: 213,000 jobs created in America last monthEarlier:Introduction: US fires first bullet in trade warChina has imposed retaliatory tariffsEach side puts new levy on $34bn of importsSoy beans, chemicals, robotics all hitChina: We don’t want a trade war 2.24pm BST A quick recap.Americans have been waking up to the news that they are official in a trade war with China.Shots fired last night in the global trade war. Here are the U.S. products that China is targeting.https://t.co/YokW9RrKvn pic.twitter.com/qPOADCxCvSInvestors must therefore be prepared for volatility to intensify. This will particularly be the case if companies pass on any tariffs to consumers, which could stoke inflation.“If we get a prolonged trade war and the US Federal Reserve continues to raise rates and tighten policy, there is a danger that this combination of headwinds could cause the global economy to slide towards recession.” 2.02pm BST Here are the key charts from today’s US jobs report: Continue reading…
Via: US job creation beats forecasts, as trade war with China begins – business live
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