China increased the additional fee to 125 percent on the US.
US-China Tarrif War: Tariff War between America and China is constantly deepening. On Thursday, the US announced to increase the tariff to 145 percent on goods and services imported from China. In response to this, today China has also announced to increase tariffs on goods and services imported from America to 125 percent. China’s Ministry of Commerce said that China has increased additional duty to 125 percent on imported US products, earlier 84 percent. The Ministry of Commerce said that China has also filed a lawsuit in the World Trade Organization after the US fee hike.
China is the only country to retaliate against American tariff
According to the latest US notification, China has been charged a total of 145 percent. Earlier, China had retaliated by imposing 84 percent tariffs on the US and banned the import of some American companies. However, China also expressed interest in interacting with the US to resolve the issue. Let us tell you that China is the only country that has retaliated against the tariff of America.
Trump initially imposed 34% tariff on China
US President Donald Trump had recently announced to collect different tariffs from different countries of the world. Trump initially imposed a 34 percent tariff on China, after which China also imposed a counter -tariff of 34 percent on the US. It is from here that the tariff war between the two countries started. After this, Trump had threatened China that if he did not remove the counter tariff, the US would impose an additional 50 percent fee on them, that is, 84 percent.
China did not back down despite America’s threats
China did not step back despite this US threat. Due to which angry Trump announced to impose 104 percent tariffs directly on China instead of 84 percent. After Trump’s move, China also moved its move and increased the counter tariffs on the US from 34 percent to 84 percent directly. Filled with this move by China, Trump on Wednesday increased the tariffs imposed on China from 104 percent to 125 percent.
Latest business news
