Home Business China plans tariffs on $60 billion of imports to counter Trump

China plans tariffs on $60 billion of imports to counter Trump

by Punjabi Trucking

China announced a list of $60 billion (Dh220.4b) worth of US imports it intends to apply tariffs on should the Trump administration follow through with its latest trade dangers. The Trump administration slapped duties about $34b of Chinese products last month, and which prompted immediate retaliation in China, plus yet another $16b will likely follow in the coming days or weeks.round of all tariffs which took effect a month.
Duties ranging from 5 percent to 25 percent will be imposed on 5,207 types of American imports if the US provides its proposed taxes on a different $200b of Chinese products, the Ministry of Finance said in a statement on Friday.
The retaliation stands to further inflame tensions between the planet’s two biggest savings and echoes China’s response to the preceding President Donald Trump that week purchased officials to consider imposing a 25 percent tax on $200b worth of imported Chinese products, up from an initial 10 percentage speed. The move was meant to bring China back to the bargaining table for talks over US requirements for structural changes to the Chinese market and also a cut in the bilateral trade deficit.

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