Washington sources reported that President Donald Trump's latest round of punitive tariffs on China took effect on Monday, adding $200 billion in Chinese imports to the escalating trade war that is clouding the global economic horizon. Meanwhile the new attack on Beijing brings the amount of goods hit by duties to more than $250 billion, roughly half of Chinese exports to the United States, and increasingly consumers will feel the pain in their wallets directly.



As per report Trump has hit 12% of total US imports this year alone. Furthermore defiant in the face of increasing fears about the impact to the US economy, Trump has threatened to go after 100 percent of imports from China if the country refuses to change policies he says harm US industry, particularly the theft of American technology. 

Related image

His Secretary of State Mike Pompeo told "We are going to win it”. Moreover Beijing has promised to strike back on Monday with duties on $60 billion in American goods, bringing the total to $110 billion, nearly everything China buys from the United States, but Trump warned he could ramp up to "phase three," slapping tariffs on approximately $267 billion of additional imports, or the entirety of the goods the US buys from China.


మరింత సమాచారం తెలుసుకోండి: