The US-China trade war is at its peak. China increases tariffs on US products. As a result of Chinese action, the US increases tariffs on Chinese products by 5%.
As the world recession plunges, the trade war is going to be awkward. China announced a 5 % tariff hike on products valued at $ 550 billion.
The decision will have a major impact on Chinese exports. These tariffs will come into effect from 1st October. Currently, $ 250 billion of products are under 25% tariffs.
These were increased by Trump to 30%. Another $ 300 billion in tariffs on Chinese goods was increased from 10 % to 15 %.
These will come into effect from September 1. Trump announced this on his Twitter account.
Trump announces a trade war on China
Date:
More like thisRelated
Demonte Colony 3 Locks Pongal 2027 Release After Multiple Delays
The makers of Demonte Colony 3, the third instalment...
Suriya’s Scene Holds Strong Amid Ramayana’s Box Office Storm
Ramayana is making a strong impact across global markets,...
Is Sharwanand’s Bhogi Heading for Another Postponement?
Sharwanand’s upcoming film Bhogi, which features him in a...
Upasana Konidela Celebrates Diwali With Sneha Reddy and Namrata
Diwali celebrations brought together the wives of some of...