Beijing: The thing that the world feared is finally coming true. The tariff war launched by US President Donald Trump has become more fierce. Trump’s order to impose a total tariff on Canada and Mexico, including 25 percent and 10 percent on China, came into effect on Tuesday, March 4, and now China has also announced retaliation. China on Tuesday announced an additional duty on US imports and 10 percent on some other items. Along with this, China has made preparations to file a legal complaint against Washington in the WTO. Canada has also announced a counter tariff against the US, while Mexico will impose 25 percent tariffs on American goods on Sunday.
US President Donald Trump last month announced a 25-25% tariff on Canada and Mexico, 10% on China and 10% on Canada from Canada. However, its implementation was postponed for a month. President Trump said that the tariffs imposed on the neighboring countries Mexico and Canada as well as China would be effective from March 4.
As soon as the tariffs imposed by Trump began to be effective, China announced its tariff on the US without losing time. With this, China has banned 10 American companies. China’s Finance Ministry has implemented punitive trade measures to 15 US companies including drone manufacturer Skidu. The ministry said that 10 other American companies would be placed in the list of incredible institutions. These companies will not be able to do business in China.
Apart from this, China’s Ministry of Commerce has accused Washington of violating WTA rules and has also prepared to take legal action in WTA. China said that it would strongly protect its valid rights and interests. Dragon said that America is harming itself by putting new tariffs on China. The trade between China and the US is beneficial for both.
On the other hand, Canada has also announced a tariff in two phases on imported goods from the US. Canadian Prime Minister Justin Trudeau said that Canada would impose tariffs on US goods worth $ 15.5 billion. The US will implement tariffs by Tuesday night, while Canada will implement 25% tariff on US goods worth US $ 15.5 billion in the first phase last night at 12.01 pm last night. Canada will impose 25 percent tariffs on US goods worth $ 30 billion from Tuesday, while tariffs will be implemented on products worth $ 125 billion within 21 days in the second phase. The third stage of tariff will target major areas including automobile, steel and aluminum. They will continue to put tariffs on the US until the US withdraws its tariff measures.
According to media reports, Canada can also restrict America’s access to its energy resources. Canada is the largest supplier of crude oil to the United States and also provides electricity to 30 percent states. Ontario’s premiere Dug Ford said that tariffs and retaliation will be a big disaster for both countries. We do not want to answer, but we will give an answer that they have never seen before.
Meanwhile, Mexico has adopted a policy of waiting for a few days before putting a tariff on the US. Mexico hopes that the implementation of 25 percent of tariffs, which was going to be implemented from Tuesday, may be postponed. Mexican President Claudia Shifar said that she would impose 25 percent tariffs on imported goods from the United States. However, they will announce on Sunday at a public event at the Central Plaza in Mexico City, which products will be tariffs. Unlike China and Canada, Mexico has decided to wait by Sunday.
10-15 percent tariff on these American goods: China
China’s Finance Ministry said it would impose 15 percent duty on some US agricultural imports including chicken, wheat, maize and cotton. Apart from this, it has announced 10 percent tariffs on other products such as soybean, pork, beef, fruits, vegetables and dairy products. However, this tariff will be effective not immediately but from March 10.
