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Trump asks US companies to dump China after Beijing announces new tariffs

The US dollar rose sharply against the Chinese yuan and US stock markets fell on Trump's latest salvo against China

Xi Jinping | Donald Trump


President Donald Trump said on Friday he was ordering US companies to look at ways to close their operations in China and make more of their products in the United States instead, sending US markets down sharply in a new rhetorical strike at Beijing as trade tensions mounted. Trump cannot legally compel US companies to abandon China immediately. He gave no detail on how he might proceed with any such order, although he said he would be offering a response later on Friday to tariffs on $75 billion in American products announced by China earlier in the day. The US dollar rose sharply ...

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First Published: Fri, August 23 2019. 21:05 IST