US President Donald Trump has accused China of over-reacting. In fact, China has announced to impose 34% additional tariffs on American goods, which Trump has reacted. This has increased trade tension between the world’s two largest economies. Chinese tariffs will be effective from April 10.
Trump said that China did wrong, they got nervous. And this is the thing they cannot tolerate. This response came after Beijing’s decision, which was taken in response to a 34% tariff on Chinese imports a few days ago.
Tariff War between America-China
The Chinese Finance Ministry said that the new tariffs are a direct answer to the steps taken by the US. Earlier this week, the Trump administration further increased the fees already implemented on Chinese goods, which affected the billions of dollars of trade. On Wednesday, Trump imposed an additional tariff on Chinese goods, which was in addition to the 20% fee levied earlier this year. With this decision, the total new tariff on Chinese imports reached 54%, which is close to the 60% target proposed during their presidential election campaign.
Rules under new American tariff
Under the new American tariff policy, exporters of China and other economies will have to provide a basic tariff of 10%, which will be applicable to almost all items from Saturday. Apart from this, additional reciperook tariffs will be effective from April 9.
China’s response
The Chinese Ministry of Commerce, criticizing the US decision, called it a policy of putting a unilateral pressure. The Ministry urged the US to resolve disputes through fair and equal dialogues.