China first time to levy import tariff on US' crude oil
Donald Trump, the US president, decided to impose a new tariff attack on US$110 billion Chinese import goods on September 1st immediately. The Chinese government announced to punch back by increasing tariff on US$75 billion American goods, including American crude oil, which showed the war would not end in the short future.
It was the first time that China brought crude oil into the punitive list. In spite of that, Donald Trump still showed full confidence that the US would win this war in the end. The market participants still expected the trade war would extend the global decline force.
