Us-China Tariff War: Tariff War between the US and China is deeply deepened. US President Donald Trump, while giving a tough ultimatum to China, has said that if Beijing does not withdraw its recent 34% tariff increase by April 8, the US will implement an additional fee from 9 April from 9 April.
Trump’s attack on social media
On the social media platform ‘X’, Trump wrote, “China imposed a new tariff of 34%, which is in addition to heavy tax, non-cost duty, illegal subsidy and currency manipulation. Despite my warning, countries that have been replaced tariffs will have to face strict charges.” He said, “If China does not withdraw this 34% increase by 8 April, then from April 9, 50% additional tariff will be imposed. All conversations with China will end, and meetings will start with other countries.”
Tariff game on India and China
On April 5, Trump imposed a ‘discount’ tariff on several countries including India, including 26% duty on imports from India. There was already 34% tax on goods coming from China. In response, China announced an additional 34% additional fee on US goods from 10 April. Also, it prohibited the export of rare metals such as Sameryum, Gadolinium, Turbium, Dispressium, Lutesium, Scandium and Etrium from 4 April, which are important for technical industries.
Impact on global trade
Trump’s move claims to protect American interests, while China is calling it a violation of trade rules. The stopping of rare metals may affect the American technical sector, while India will increase the pressure on business relations with 26% tariffs. This tariff war can cause instability in global markets.
