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The oil drops following the new series of US-Chinese tariffs
NEW YORK (Reuters) – Oil prices fell on Monday after the entry into force of a new US-Chinese tariff, raising fears that global growth will further hurt demand for oil.
Brent was down 42 cents, or 0.7%, to 58.83 dollars a barrel.
The administration of US President Donald Trump has begun to impose a 15% tariff on Chinese imports worth more than $ 125 billion, including smartphones, Bluetooth headsets and many types of shoes.
In response, China has begun to charge duties on some US products on a $ 75 billion target list.
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