American and global markets tumbled again on Monday, wiping trillions of dollars of market value on top of the US$11 trillion that has been wiped out since the start of the trade war.
This, after US President Donald Trump said he would impose another 50 per cent tariff on Chinese exports to the US on Tuesday if China does not remove its 34 per cent tariff on US exports to China.
This means the tariff on exports from China to the US would jump to more than 100 per cent, leading to massive price increases to American and all other consumers of Chinese goods which come through US ports.
Jamaica imported US$625.2 million in goods from China and US$2.6
billion in goods from the USA during the first 11 months of last
year.
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