In the News: China-US Tariff Hikes; Chinese Outbound Deals Plummet; Goldman Set For Majority JV Control; and Beijing to Trial Foreign Investment in VPNs

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Vincent Chow

China-U.S. trade war further escalates with latest retaliatory tariff hikes from both sides; Chinese outbound M&A continues downward spiral amid trade war and heightened regulatory scrutiny; Goldman Sachs set to take majority control of Chinese securities JV; and Beijing to trial foreign investment in VPN services by the end of the year

Goldman Sachs Photographer: Nicky Loh/Bloomberg Photographer: Nicky Loh/Bloomberg

China-U.S. relations deteriorate with latest tit-for-tat tariff hikes

China unveiled plans to impose new tariffs on U.S. imports in retaliation against the latest round of U.S. tariffs on Chinese imports, targeting U.S. agricultural products, automobiles and apparel. President Donald Trump swiftly responded with a tweet announcing that he would raise the rate of existing and planned tariffs on Chinese imports by 5 percentage points. He also "ordered" U.S. companies doing business in China to explore relocating elsewhere.

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