The United States and China trade war has taken an unfortunate turn for both the countries. Where US has announced the new tax regulation on 200 billion USD Chinese products and goods, there China has also planned to get back at President Donald Trump. As per the latest update, the Chinese government has announced the new trade tariffs on 60 Billion USD goods.
It seems like the trade was between China and the United States is not going to end soon. In response to the new trade tax policies of the US, China has also come up with their own comeback. According to the latest update, these new US duties will be imposed on all $200 Billion of Chinese imports by next Monday escalating the trade war of US with Beijing.
In the latest Tweet from Mr. Trump, the President send the warning against Beijing with the goal of influencing the upcoming US midterm elections. He also mentioned that the in case if the farmers, industry workers, and ranchers are targeted then there will be consequences for China.
Computers, Textiles, and Aircraft
Earlier suggestions also mentioned that US tariffs will be imposed on $267 Billion worth of Chinese goods and products. This will actually mean that the most of China’s export to the United States will be subjected to these new tariffs and duties.
In response to that, the Chinese commerce ministry is all set to impose the tariffs from 24th September. This is the same date on which the US duties will come into action. According to the new policies, the Chinese government will place an additional 5 percent in duty on all the US products including all the smaller aircraft, textiles, as well as computers. This is not all, these new duties will also be imposed on goods like chemicals, wines, wheat, handbags, rice as well as chairs and watches.
This trade war between China and the United States seems to be never-ending.