Oil prices fell earlier today after President Trump threatened to slap more tariffs on Chinese products, with West Texas Intermediate shedding almost a percentage point at the time of writing, to trade at US$63.02 a barrel and Brent changing hands for US$67.85 a barrel, down 0.70 percent. President Trump yesterday told his trade administration to start working on additional tariffs worth another US$100 billion in Chinese goods in response to China’s retaliation to the initial tariffs on US$50 billion worth of Chinese goods. The retaliation was equal to the initial size of the U.S. goods package, which President Trump called “unfair”. China did not waste any time in responding to the new threat, saying it “will follow suit to the end and at any cost, and will firmly attack, using new comprehensive countermeasures, to firmly defend the interest of the nation and its people.” The prospect of a trade […]