More havoc on china, US tariff has been increased…
US President donald trump has increased the tariff targeting goods imported from China. The tariff was increased for the third time in 8 days and these new rates also became effective from Thursday. After this, the new tariff rates imposed by Washington on many products of beijing have gone up to 145 percent. This was confirmed by the White House. However, giving relief to many countries, trump has also put a break on the new tariff rates for 90 days.
But, the tariff rates on china have been almost doubled, in which along with the 125 percent tariff imposed on imported goods from china, an additional 20 percent tariff was imposed on beijing earlier this year for its alleged role in fertiliser supply.
According to a CNBC report, a white house official said that with this new increase, the total rate of tariff imposed by the US on china will be 145%. This includes a 20 percent tariff imposed on beijing for its alleged role in smuggling of fentanyl. Also, the new tariff imposed on Chinese goods is 125 percent.
Fentanyl is a powerful synthetic opioid drug, which is used as a painkiller and anesthetic. President trump says that fentanyl drugs are made in very large quantities in china and are supplied from there. This fentanyl is about 100 times more powerful than morphine and 50 times more powerful than heroin.
However, aluminum and some other things have been excluded from this scope of tariff because trump has imposed a separate tariff of 25 percent on it. Along with this, the new tariff rates will also not be effective on copper, pharmaceuticals, energy products, because trump has indicated that he will impose a separate tariff on it. In such a situation, the picture regarding tariff has become more complicated amid the ongoing trade tension between Washington and Beijing.
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