China gave a befitting reply to Donald Trump!
The trade war between America and china has once again intensified. After US President donald trump imposed new tariffs on china, beijing has also retaliated. china has announced to increase import tax on American agricultural and food products by 10 to 15 percent.
China's counterattack
china has also imposed restrictions on 25 US companies regarding export and investment. This step was taken when the US increased the duty on Chinese goods to 20 percent, and also imposed a new tariff of 25 percent on imports from mexico and Canada.
On which products will the new tariff be imposed?
According to the statement of China's Finance Ministry, additional duty will be imposed on many products coming from America from march 10. These include-
15% tariff - on American chicken, wheat, corn and cotton
10% tariff - on soybean, sorghum, pork, beef, fish, fruits and vegetables and dairy products
America violated WTO rules
China's Commerce Ministry has accused the US of breaking the rules of the World Trade Organization (WTO). The ministry said that this move could harm the economic relations between china and the US. china made it clear that it would "protect its legitimate rights and interests".
Why did trump impose a new tariff?
The US has imposed a total duty of 20 percent on china from march 4. The trump administration took this decision expressing displeasure over China's attitude towards the supply of drugs. The white house says that china supplies chemicals that are used to make dangerous drugs like fentanyl. However, china has denied these allegations.
click and follow Indiaherald WhatsApp channel