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
AP Netanna Sevalo Scheme: Andhra Pradesh to Deposit ₹25,000 Directly into Weavers’ Bank Accounts
AP Netanna Sevalo Scheme: ₹25,000 Annual Assistance for Handloom...
Formula E Case: ACB Chargesheet Names KTR, Former Officials in ₹55 Crore Fund Diversion Probe
Formula E Case: ACB Files Chargesheet Against KTR and...
Rajamouli’s ‘Varanasi’ Begins 250-Day Countdown, Release Date Remains on Track
Varanasi: Rajamouli's Epic Film Begins 250-Day Countdown
The makers of...
Ritika Nayak Opens Up: ‘I Was Hurt After Being Left Out of Promotions, But It Worked in My Favour’
Ritika Nayak: 'I Was Hurt for Not Being Part...