Us china trade war: After the US imposes 20 percent tariffs on China, China has also announced to impose 10 to 15 percent tariffs on US products as part of retaliation. This tariff will be effective from March 10. China has also filed a complaint against Trump’s tariff policy in the World Trade Organization. The Chinese Finance Ministry gave this information.
China’s Finance Ministry said, “These tariffs will apply to top US products imported from the US, including wheat, maize and cotton.” This decision has caused a trade war between the world’s two top economies. This decision of China came after US President Donald Trump’s order to impose a 20 percent tariff on China. 15 percent tariffs will be imposed on wheat, maize and cotton imports from the US, while 10 percent tariffs will be applied on tidal, soybean, fruits, vegetables and dairy products.
Trade war has erupted in the world.
Since the US has imposed tariffs on imports from Canada, Mexico and China from today, these countries have also announced to impose counter tariffs. Canada has also announced a 25 percent tariff on US products worth $ 125 billion. Mexico will also take concrete steps and put tariffs. Trump’s tariff war has given rise to trade war worldwide. The US has doubled tariffs on Chinese products. Trump believes that tariffs can solve the problems of the country. But economists are fearing that this may increase inflation worldwide. It is noteworthy that Trump will also apply mutual tariffs from March 2. Trump said Tariff is a powerful weapon that politicians have not used. Because they were fools and dishonest. He himself became a leader to earn money.
Ban on 25 US companies
In addition to the tariff, China has also imposed exports and investment restrictions on 25 American companies. China said, “In the interest of national security, China has imposed exports and investment restrictions on 25 American companies. These companies sell weapons to Taiwan. China accused the US of adopting the world’s strict anti -drug policy and blackmailing Fentanil. On the other hand, experts say that Chinese officials want the Trump administration to resolve the tariff issue through negotiations. But Trump does not look ready to listen to anyone.
