China imposed 15% tax on various goods: Reacting to the tariff war by US President Donald Trump, China has announced that it has imposed a tariff of 10 to 15 percent on various items. This move by China has created a ruckus globally. As soon as the US imposed 10% tariff on Chinese goods, China retaliated, applying 15% tariff on American coal and LNG products. He has also applied 10 percent tariff on crude oil and other items.
Chinese government announced
The Chinese government said that 15 percent tariffs would be imposed on coal and liquefied natural gas products, while crude oil, agricultural machinery and large displacement cars would be imposed 10 percent tariffs. Additionally, investigation has been initiated against Google’s monopoly. Google shut down its Chinese internet services after the contract ended with Chinese companies.
America broke the rules
Chinese regulators said, “America’s unilateral tariff growth is a serious violation of the rules of the World Trade Organization.” This is not only helpful in solving its problems, but also damages general economic and business cooperation between China and the US. President Donald Trump ordered a 10 percent tariff on China. This was to be implemented from Tuesday. However, Trump has planned to talk to Chinese President Xi Jinping in the next few days.
Trump ready for talks with China
Donald Trump gave 30 days to reply to Canada and Mexico after applying the tariff. But China was not given any relief. However, Trump expressed his desire to interact with China on the tariff issue. Trump said he would talk to Chinese President Jinping in the next 24 hours. Significantly, the tariffs imposed on China came into effect from 12.01 pm on Tuesday afternoon.
