Oil Falls On Trump`s Latest China Trade Threats

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Oil prices fell about 2 percent on Friday after U.S. President Donald Trump threatened new tariffs on China, reigniting fears of a trade war between the world's two largest economies that could hurt global growth. 

 

Trump said on Thursday he had ordered U.S. trade officials to consider tariffs on an extra $100 billion of imports from China, escalating tensions with Beijing.

 

China warned on Friday it was fully prepared to respond with a "fierce counter strike" of fresh trade measures if the United States follows through on Trump's threat.

 

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