Nearly $50b wiped off ASX as Trump tariffs take full effect
China’s top leaders plan to convene a meeting as early as Wednesday to discuss measures to boost the economy and stabilise the capital markets, people with knowledge of the matter said, amid an escalating trade war with the US.
The meeting comes as US duties on Chinese imports nearly doubled to 104% on Wednesday and is the first such publicly known high-level gathering since US President Donald Trump announced “reciprocal” tariffs on China last week.
Senior officials from the State Council, several government and regulatory bodies were expected to attend the meeting, said the two sources, declining to be named as they were not authorised to speak to the media.
The policymakers were expected to discuss measures to boost domestic consumption…
