The position of trade war at the global level is constantly getting worse. Earlier, the US declared an additional tariff of 25 and 10 percent respectively on steel and aluminium imports. In response, China imposed a $ 3 billion tariff on 128 products imported from the United States. The pride between the two countries is not over here. Now the US has announced 25 percent additional tariffs on nearly 1300 products imported from China.
US President Donald Trump believes that he is facing a major loss in business from his biggest trading partner China. This decision by the Trump administration is expected to give the United States additional revenues of approximately $ 50 billion. The US has argued that Chinese companies are getting the direct benefit of trading in these products with China.
Published On : 04 Apr 2018