US

Unacceptable to China- $200 billion tariff by US,result of trade war

China has strongly reacted to the proposal by the US to an additional tariff on $200 billion dollars of Chinese goods. It is not acceptable as it will draw similar action by China.

China has stated that US imposing tariff on Chinese goods would not only hurt Americans' along with the Chinese, it will also hurt the interest of people all over the world.

Fears of long drawn trade war bet ween China and US

The trade war between US and China seems to be heading into a prolonged trade giving no hints of any quick relief in the trade war. Both countries have inflicted higher tariffs on 34 billion worth of goods from each country.

"Friday"- dawn the implementation of new tariffs by the US on Chinese goods, China reciprocating with new tariffs on US goods triggering a lengthy trade war.

Further, US president Trump is eyeing on the fresh round of tariffs on 500 billion worth of Chinese goods, which could lead to further escalation of the trade war.

PATEL OPTIMISTIC ABOUT ECONOMIC GROWTH POST-DEMONETISATION

RBI Governor Urjit Patel

Reserve Bank Governor Urjit Patel expressed optimism that India's economic growth will make a "sharp V" recovery  as a result of the demonetisation of 500 and 1,000 rupee notes. 

 "Almost everyone agrees that the impact is going to be a sharp 'V', that we would have a downgrade of growth for a short period of time," he told CNBC-TV18 in an interview. Patel also made a strong case for continuing with globalisation even in the face of a potential shift to trade protectionism under US President Donald Trump as India has benefited from open trade.

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