US President Donald Trump imposed a 25% duty on imported goods worth $ 50 billion from China, which could lead to business warfare. Between the world's two largest economies, the words war that started in the last few days about business interests has now been seen as a warning of big trade war.
The US accused Beijing of intellectual copyright theft, saying that if China takes retaliatory action, it will be charged again. The import duty will be imposed on 800 types of products and it will be applicable from July 6.
Trump said in a statement that the US will impose an import duty on those items which are industrially related to important technology. It will also include items related to China's “Made in China 2025” plan to occupy high technology industries.
Published On : 16 Jun 2018