Us-china trade war: The ongoing trade war between the US and China is deepening. US President Donald Trump imposed an additional 25 percent tariff on the first neighboring country Canada and Mexico in his second term, while his old rival country also imposed an additional tax of 10 percent.
However, Trump has postponed 25 percent tariff for a month by communicating with Canada and Mexico, but no such opportunity was found for China. Furious due to additional tariff of 10 percent, China also imposed a counter -tax of 10 to 15 percent on the goods imported from the US.
China’s Ministry of Commerce announced
The Chinese Ministry of Commerce on Tuesday (4 February) announced that it was imposing counter -tariffs on several products to be imported from the US. Apart from this, China has also announced investigation and other trade related measures on American Tech Giant Company Google. The Chinese Commerce Ministry said in a statement that it would impose an additional 15 percent tariff on coal and leakvified natural gas (LNG) imported from the US and put 10 percent tariff on crude oil, agricultural equipment, big cars, pickup trucks. However, China has announced the implementation of tariffs on the US from 10 February.
In its statement, China said, “The tariff imposed by the US violates the rules of the World Trade Organization (WTO). This step will not solve any of our problems, but it will harm the general economic and trade cooperation between the two countries. ”
Jinping is troubled by Trump’s bet
China is shocked by the steps taken by the US President. Because its economy is already dull, China has suffered a major setback due to additional American tax. Even during his previous President’s tenure, Trump had imposed a tariff on China. However, this time China was already alert about this bet. By learning from Trump’s previous stakes, China has spread most of its markets in other countries instead of America. So that the Chinese economy does not have much impact due to American action.
China is eyeing a big occasion
China has shifted its consumer market to the countries of Africa, South America and Southeast Asia other than America. Experts say that Chinese President Xi Jinping is on a big occasion between this trade and tariff war, as Trump has waged a war on several fronts simultaneously.
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